ributes cash of P165,000 for a 30% interest in the profits and losses and a 20% interest in the capital of the firm. R
ributes cash of P165,000 for a 30% interest in the profits and losses and a 20% interest in the capital of the firm. R
Chapter21: Partnerships
Section: Chapter Questions
Problem 2BCRQ
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- Romanoff and Barton are partners with capital balance of P60,000 and P70,000. Romanoff has a 30% interest in the
partnership profits and losses . At this time, the partnership decided to admit Stark and Rogers as new partners. Stark contributes cash of P165,000 for a 30% interest in the profits and losses and a 20% interest in the capital of the firm. Rogers contributes cash of P20,000 and an equipment for a 35% interest in the profits and losses and a 25% interest in the firm’s capital. Barton receive a bons of P38,325 after the admission of Starks and rogers. How much is the equipment contributed by Rogers?
Note: Please probide a solution so that I can understand. Thank you so much!
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