Chow and King are partners who share profits and losses in a ratio of 4:3, respectively. They have the following capital balances on Ooctober 31, 2021: Chow, Capital King, Capital P300,000 P 550,000 The partners agreed to admit Arthur to the Partnership. Arthur paid Chow P200,000 for 40% c his interest. What is the capital balance of Partner Arthur after admission?
Chow and King are partners who share profits and losses in a ratio of 4:3, respectively. They have the following capital balances on Ooctober 31, 2021: Chow, Capital King, Capital P300,000 P 550,000 The partners agreed to admit Arthur to the Partnership. Arthur paid Chow P200,000 for 40% c his interest. What is the capital balance of Partner Arthur after admission?
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 59P
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