May, Jun, and Julie are partners with profit and loss ratio of 3:3:2 and capital balances of ₱1,750,000, ₱1,520,000 and ₱1,230,000, respectively. Julie decided to withdraw from the partnership to focus on her coffee business. She was paid ₱1,000,000 by the partnership for her capital interest. The difference in amount is due to the recognition of bonus. How much is the capital balance of Jun after the withdrawal of Julie?
May, Jun, and Julie are partners with profit and loss ratio of 3:3:2 and capital balances of ₱1,750,000, ₱1,520,000 and ₱1,230,000, respectively. Julie decided to withdraw from the partnership to focus on her coffee business. She was paid ₱1,000,000 by the partnership for her capital interest. The difference in amount is due to the recognition of bonus. How much is the capital balance of Jun after the withdrawal of Julie?
Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations
Section: Chapter Questions
Problem 31P
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May, Jun, and Julie are partners with
How much is the capital balance of Jun after the withdrawal of Julie?
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