an invests P160,000 in a partnership for a 1/4 interest. Prior to Cunanan's admission, the partnership had two partners with capital balances of P190,000 each. If no asset revaluation is recognized prior to Cunanan's admission, what amount is credited to his capital accoun
an invests P160,000 in a partnership for a 1/4 interest. Prior to Cunanan's admission, the partnership had two partners with capital balances of P190,000 each. If no asset revaluation is recognized prior to Cunanan's admission, what amount is credited to his capital accoun
Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations
Section: Chapter Questions
Problem 39P
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Cunanan invests P160,000 in a partnership for a 1/4 interest. Prior to Cunanan's admission, the partnership had two partners with capital balances of P190,000 each. If no asset revaluation is recognized prior to Cunanan's admission, what amount is credited to his capital account?
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