11 Partners Chung, Detoya, and Digao share profits and losses in a 3:1:2 ratio,PS00,000 prior to Detoya's notification of withdrawal, what amount should Detoyarespectively. Detoya wishes to leave the partnership, so the assets are revalued andare found to be overvalued by P300,000. If each partner had a capital balance ofbe allowed to withdraw from the partnership?found to be overvalued by P300,000. If each partner had a capital balance ofh theAfteraP400,000AP450,000C P500,000C.d. PS50,000Villon invested P600,000 for a 30% interest in a partnership in which the otherpartners have capital totaling P1,000,000 before admitting Villon. After distributionof the bonus, what is Villon's capital balance?a P720,000b. P600,000c P480,000d. P300,000ts to3 Total partners' equity will not change when a withdrawing partnera. withdraws assets equal to his capital balance.b. sells his interest to a new or remaining partner.c withdraws assets amounting to less than his capital balance.d. withdraws assets amounting to greater than his capital balance.14 Narvaez invested P400,000 for a one-fourth interest in a partnership in which theother partners have capital totaling P800,000 before admitting Narvaez. Afterdistribution of the bonus, what is Narvaez's capital balance?a. P100,000b. P200,000C P300,000d. P400,000ew15 Dellosa bought Longalong's interest in the Seechua and Longalong Partnership by aP600,000 direct payment to Longalong. The capital balances before the sale wereP240,000 and P360,000, respectively. What will be the amount in Dellosa's Capitalaccount?a. P300,000b. P360,000C. P480,000d. P600,000Dissolution- Changes in Ownership | 141

As posted multiple independent questions we are answering only first question kindly repost the…

11 Partners Chung, Detoya, and Digao share profits and losses in a 3:1:2 ratio, respectively. Detoya wishes to leave the partnership, so the assets are revalued and are found to be overvalued by P300,000. if each partner had a capital balance of 500.000 prior to Detoya's notification of withdrawal, what amount should Detoya be allowed to withdraw from the partnership? P400,000 AP450,000 e P500,000 d PSS0,000

11 Partners Chung, Detoya, and Digao share profits and losses in a 3:1:2 ratio, respectively. Detoya wishes to leave the partnership, so the assets are revalued and are found to be overvalued by P300,000. if each partner had a capital balance of 500.000 prior to Detoya's notification of withdrawal, what amount should Detoya be allowed to withdraw from the partnership? P400,000 AP450,000 e P500,000 d PSS0,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

11 Partners Chung, Detoya, and Digao share profits and losses in a 3:1:2 ratio,
PS00,000 prior to Detoya's notification of withdrawal, what amount should Detoya
respectively. Detoya wishes to leave the partnership, so the assets are revalued and
are found to be overvalued by P300,000. If each partner had a capital balance of
be allowed to withdraw from the partnership?
found to be overvalued by P300,000. If each partner had a capital balance of
h the
After
aP400,000
AP450,000
C P500,000
C.
d. PS50,000
Villon invested P600,000 for a 30% interest in a partnership in which the other
partners have capital totaling P1,000,000 before admitting Villon. After distribution
of the bonus, what is Villon's capital balance?
a P720,000
b. P600,000
c P480,000
d. P300,000
ts to
3 Total partners' equity will not change when a withdrawing partner
a. withdraws assets equal to his capital balance.
b. sells his interest to a new or remaining partner.
c withdraws assets amounting to less than his capital balance.
d. withdraws assets amounting to greater than his capital balance.
14 Narvaez invested P400,000 for a one-fourth interest in a partnership in which the
other partners have capital totaling P800,000 before admitting Narvaez. After
distribution of the bonus, what is Narvaez's capital balance?
a. P100,000
b. P200,000
C P300,000
d. P400,000
ew
15 Dellosa bought Longalong's interest in the Seechua and Longalong Partnership by a
P600,000 direct payment to Longalong. The capital balances before the sale were
P240,000 and P360,000, respectively. What will be the amount in Dellosa's Capital
account?
a. P300,000
b. P360,000
C. P480,000
d. P600,000
Dissolution- Changes in Ownership | 141

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