e capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership. Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
e capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership. Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
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The capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership.
Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
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