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The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000; Dizon (10%) P42,000. The partners decide to sell to Hizon 20 percent of their respective capital and profit and loss interests for a total payment of P90,000. Hizon will pay the money directly to the other par ers. What are the capital balances of the partners after Hizon's admission to the partnership? * Aquino P198,000; Locsin P99,000; Dizon P33,000; Hizon P90,000 Aquino P201,600; Locsin P100,800; Dizon P33,600; Hizon P84,000 Aquino P216,000; Locsin P108,000; Dizon P36,000; Hizon P90,000 Aquino P255,699; Locsin P127,800; Dizon P42,600; Hizon P84,000

The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000; Dizon (10%) P42,000. The partners decide to sell to Hizon 20 percent of their respective capital and profit and loss interests for a total payment of P90,000. Hizon will pay the money directly to the other par ers. What are the capital balances of the partners after Hizon's admission to the partnership? * Aquino P198,000; Locsin P99,000; Dizon P33,000; Hizon P90,000 Aquino P201,600; Locsin P100,800; Dizon P33,600; Hizon P84,000 Aquino P216,000; Locsin P108,000; Dizon P36,000; Hizon P90,000 Aquino P255,699; Locsin P127,800; Dizon P42,600; Hizon P84,000

Accounting (Text Only)
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter12: Accounting For Partnerships And Limited Liability Companies
Section: Chapter Questions
Problem 12.26EX
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TNT 6 O ON 68% 11:15 The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000; Dizon (10%) P42,000. The partners decide to sell to Hizon 20 percent of their respective capital and profit and loss interests for a total payment of P90,000. Hizon will pay the money directly to the other partners. What are the capital balances of the partners after Hizon's admission to the partnership? * Aquino P198,000; Locsin P99,000; Dizon P33,000; Hizon P90,000 Aquino P201,600; Locsin P100,800; Dizon P33,600; Hizon P84,000 Aquino P216,000; Locsin P108,000; Dizon P36,000; Hizon P90,000 Aquino P255,699; Locsin P127,800; Dizon P42,600; Hizon P84,000 At December 31, Rod and Sol are partners with capital balances of P40,000 and P20,000, and they
Transcribed Image Text:TNT 6 O ON 68% 11:15 The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000; Dizon (10%) P42,000. The partners decide to sell to Hizon 20 percent of their respective capital and profit and loss interests for a total payment of P90,000. Hizon will pay the money directly to the other partners. What are the capital balances of the partners after Hizon's admission to the partnership? * Aquino P198,000; Locsin P99,000; Dizon P33,000; Hizon P90,000 Aquino P201,600; Locsin P100,800; Dizon P33,600; Hizon P84,000 Aquino P216,000; Locsin P108,000; Dizon P36,000; Hizon P90,000 Aquino P255,699; Locsin P127,800; Dizon P42,600; Hizon P84,000 At December 31, Rod and Sol are partners with capital balances of P40,000 and P20,000, and they
TNT 6 O ON 68% DI 11:15 Fred, Greg, and Henry are partners with average capital balances during 2019 of P120,000 and P60,000 and P40,000 , respectively. Partners receive 10 percent interest on their average capital balances. After deducting salaries pf P30,000 to Fred and P20,000 to Henry , the remaining profit or loss is divided equally. In 2019, the partnership sustained a P33,000 loss before interest and salaries to partners. By what amount should Fred's capital account change? * O P7,000 increase P11,000 decrease P35,000 decrease P42,000 increase The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000;
Transcribed Image Text:TNT 6 O ON 68% DI 11:15 Fred, Greg, and Henry are partners with average capital balances during 2019 of P120,000 and P60,000 and P40,000 , respectively. Partners receive 10 percent interest on their average capital balances. After deducting salaries pf P30,000 to Fred and P20,000 to Henry , the remaining profit or loss is divided equally. In 2019, the partnership sustained a P33,000 loss before interest and salaries to partners. By what amount should Fred's capital account change? * O P7,000 increase P11,000 decrease P35,000 decrease P42,000 increase The ALD Partnership shows the following profit and loss ratios and capital balances: Aquino (60%) P252,000; Locsin (30%) P126,000;
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