The balance sheet as of September 30, 2021, for the partnership D,E and F shows the following information: Assets P360,000; D Loan, P20,000 D, Capital P83,000; E, Capital P77,000; F, capital P180,000. It was agreed among the partners that D retires from the partnership, and it was also further agreed that the assets should be adjusted to their fair value of P345,000 as of September 30, 2021. Net loss prior to the retirement of D amount to P70,000. The partnership is to pay D P62,000 cash for D’s partnership interest, which would include the payment of his loan. No goodwill is to be recorded. D, E and F shares profit 40%, 15% and 45% respectively. After D’s retirement, how much would F’s capital balance be? a. P66,000 b. P147,000 c. P136,500 d. P185,250
The balance sheet as of September 30, 2021, for the
information: Assets P360,000; D Loan, P20,000 D, Capital P83,000; E, Capital P77,000; F, capital
P180,000. It was agreed among the partners that D retires from the partnership, and it was also
further agreed that the assets should be adjusted to their fair value of P345,000 as of September 30,
2021. Net loss prior to the retirement of D amount to P70,000. The partnership is to pay D P62,000
cash for D’s partnership interest, which would include the payment of his loan. No
recorded. D, E and F shares profit 40%, 15% and 45% respectively. After D’s retirement, how much
would F’s capital balance be?
a. P66,000 b. P147,000 c. P136,500 d. P185,250
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