PROBLEM 2-3 D, E and F share partnership profits in the ratio of 2:3:5. On September 30, F opted to retire from the partnership. The capital balances on this date follow: D, Capital - P25,000 E, Capital - P40,000 F, Capital - P35,000 a. How much is to be debited from D, assuming F is paid P39,000 in full settlement of his partnership interest (bonus method)? b. How much is the capital of E after the retirement of F? C. Assuming asset revaluation method, how much is the capital of D after the retirement of F? d. Assuming asset revaluation method, how much is the capital of E after the
PROBLEM 2-3 D, E and F share partnership profits in the ratio of 2:3:5. On September 30, F opted to retire from the partnership. The capital balances on this date follow: D, Capital - P25,000 E, Capital - P40,000 F, Capital - P35,000 a. How much is to be debited from D, assuming F is paid P39,000 in full settlement of his partnership interest (bonus method)? b. How much is the capital of E after the retirement of F? C. Assuming asset revaluation method, how much is the capital of D after the retirement of F? d. Assuming asset revaluation method, how much is the capital of E after the
Chapter21: Partnerships
Section: Chapter Questions
Problem 57P
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