Adam, Eve and Abel are partners in Suave Swimsuits. Profits and losses are shared in the ratio of 5:3:2. On July 1, 2022, when their capital balances stood at P50,000, P25,000 and P30,000 respectively, they agree to admit Cain to the partnership. Answer the questions that follow assuming, Cain pays Eve P15,000 for 50% of her interest. What is the capital balance of Eve after formation of the partnership? * What would be the new profit and loss ratio of Adam, Eve, Cain, and Abel, respectively? (Answer in %. Sample: 25%-25%-25%-25%) * What is the capital balance of Adam after formation of the partnership? *
Adam, Eve and Abel are partners in Suave Swimsuits. Profits and losses are shared in the ratio of 5:3:2. On July 1, 2022, when their capital balances stood at P50,000, P25,000 and P30,000 respectively, they agree to admit Cain to the partnership. Answer the questions that follow assuming, Cain pays Eve P15,000 for 50% of her interest. What is the capital balance of Eve after formation of the partnership? * What would be the new profit and loss ratio of Adam, Eve, Cain, and Abel, respectively? (Answer in %. Sample: 25%-25%-25%-25%) * What is the capital balance of Adam after formation of the partnership? *
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 51P
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Adam, Eve and Abel are partners in Suave Swimsuits. Profits and losses are shared in the ratio of 5:3:2. On July 1, 2022, when their capital balances stood at P50,000, P25,000 and P30,000 respectively, they agree to admit Cain to the partnership .
Answer the questions that follow assuming, Cain pays Eve P15,000 for 50% of her interest.
Answer the questions that follow assuming, Cain pays Eve P15,000 for 50% of her interest.
What is the capital balance of Eve after formation of the partnership? *
What would be the new profit and loss ratio of Adam, Eve, Cain, and Abel, respectively? (Answer in %. Sample: 25%-25%-25%-25%) *
What is the capital balance of Adam after formation of the partnership? *
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT