the capital account for the partnership of A and B at March 31, 2020 are as follows: A, Capital - 80,000 B, Capital - 40,000 The partners share profits and losses in the ratio of 3:2 respectively. The partnership decided to admit C as a partner with 1/3 interest in the capital and profits and losses upon his contribution of P30,000. Immediately after C's admission, what should be the capital balances of A, B, and C respectively, assuming bonus is to be recognized?
the capital account for the partnership of A and B at March 31, 2020 are as follows: A, Capital - 80,000 B, Capital - 40,000 The partners share profits and losses in the ratio of 3:2 respectively. The partnership decided to admit C as a partner with 1/3 interest in the capital and profits and losses upon his contribution of P30,000. Immediately after C's admission, what should be the capital balances of A, B, and C respectively, assuming bonus is to be recognized?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1PB: The partnership of Magda and Sue shares profits and losses in a 50:50 ratio after Mary receives a...
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the capital account for the partnership of A and B at March 31, 2020 are as follows:
A, Capital - 80,000
B, Capital - 40,000
The partners share
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