Immediately after the admission of Rosauro, the capital balances of Rosemarie, Rose and Rosauro respectively must be:
Immediately after the admission of Rosauro, the capital balances of Rosemarie, Rose and Rosauro respectively must be:
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1PA: The partnership of Tatum and Brook shares profits and losses in a 60:40 ratio respectively after...
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Rosemarie and Rose are partners sharing profits and losses in the ratio of 7:3 respectively. On February 14, 2020, their respective capital balances are as follows: Rosemarie: P 35, 000; Rose: P 30, 000. On that day, they agreed to admit Rosauro as partner with one third interest in the capital and profits and losses upon investment of P 25, 000. The new partnership will begin with a total capital of P 90, 000. Immediately after the admission of Rosauro, the capital balances of Rosemarie, Rose and Rosauro respectively must be:
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