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Exercise 4 - 9. Admission by Investment: Computing Partners' Agreed Capital Jude and Isidore are partners with capital balances of P600,000 and P200,0 Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to adi their partnership business. Anthony invested a computer valued at P100,000 f interest in the new partnership. The computer costs P120,000 when he purchas Required: Compute for the agreed capital balances of all the partners after t Anthony.

Exercise 4 - 9. Admission by Investment: Computing Partners' Agreed Capital Jude and Isidore are partners with capital balances of P600,000 and P200,0 Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to adi their partnership business. Anthony invested a computer valued at P100,000 f interest in the new partnership. The computer costs P120,000 when he purchas Required: Compute for the agreed capital balances of all the partners after t Anthony.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter19: Accounting For Partnerships
Section: Chapter Questions
Problem 6SPB
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Exercise 4 – 9. Admission by Investment: Computing Partners' Agreed Capital Balances Jude and Isidore are partners with capital balances of P600,000 and P200,000, respectively. Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to admit Anthony into their partnership business. Anthony invested a computer valued at P100,000 for a 20% capital interest in the new partnership. The computer costs P120,000 when he purchased it a year ago. Required: Compute for the agreed capital balances of all the partners after the admission of Anthony.
Transcribed Image Text:Exercise 4 – 9. Admission by Investment: Computing Partners' Agreed Capital Balances Jude and Isidore are partners with capital balances of P600,000 and P200,000, respectively. Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to admit Anthony into their partnership business. Anthony invested a computer valued at P100,000 for a 20% capital interest in the new partnership. The computer costs P120,000 when he purchased it a year ago. Required: Compute for the agreed capital balances of all the partners after the admission of Anthony.
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