year, Maria decides to withdraw from the partnership. Maria will receive cash settlement P150,000 and P180,000 respectively and divide profit and loss equally. At the end of the Maria, Leonora and Teresa are partners with adjusted capital balances of P165,000, of P150,000 Instruction: Give the entry to record the withdrawal of Maria assuming - a. Bonus Method is used b. Revaluation of Asset method is used
year, Maria decides to withdraw from the partnership. Maria will receive cash settlement P150,000 and P180,000 respectively and divide profit and loss equally. At the end of the Maria, Leonora and Teresa are partners with adjusted capital balances of P165,000, of P150,000 Instruction: Give the entry to record the withdrawal of Maria assuming - a. Bonus Method is used b. Revaluation of Asset method is used
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
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