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Jen, Raks, and Fred are partners with average capital balances during 2019 of P945,000, P477,300,...

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Accounting

Jen, Raks, and Fred are partners with average capital balances during 2019 of P945,000, P477,300, and P324,700, respectively. The partners receive 10% interest on their average capital balances; after deducting salaries of P244,650 to Jen and P165,250 to Fred, the residual profits or loss is divided equally. In 2019, the partnership had a net loss of P251,248 before the interest and salaries to partners. By what amount should Jens and Freds capital account change increase (decrease)?

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