Final answer:
The average capital balance for Cals is P41,000 and for Jiro is P31,000 when calculated based on their respective capital contributions and withdrawals throughout the year.
Step-by-step explanation:
The question requires the calculation of the average capital balance for Cals and Jiro for a specified period. To find the average capital balance, you must consider each person's capital at the beginning of the year, account for additional investments or withdrawals, and then compute the average over the year.
For Cals, the capital balance starts at P48,000 on January 1. Cals then withdraws P6,000 on May 1 and another P6,000 on July 1. This means that for 4 months (January to April), Cals has P48,000; for 2 months (May to June), Cals has P42,000 (after the first withdrawal); and for the remaining 6 months (July to December), the balance is P36,000. Thus, the calculation of the average balance for Cals would be as follows:
- (4 months * P48,000) + (2 months * P42,000) + (6 months * P36,000)
- P192,000 + P84,000 + P216,000
- P492,000/12 months = P41,000
Now for Jiro, we begin with a balance of P24,000 on January 1. Jiro adds P12,000 on April 1, bringing the total to P36,000, and then withdraws P8,000 on October 1, which leaves P28,000 for the last 3 months of the year. So, Jiro's calculation will be:
- (3 months * P24,000) + (6 months * P36,000) + (3 months * P28,000)
- P72,000 + P216,000 + P84,000
- P372,000/12 months = P31,000
Therefore, the correct answer is that the average capital balance for Cals is P41,000 and for Jiro is P31,000.