16. Ragnell and Alondite are partners sharing profits in the ratio of 3:2, respectively. On January 1, Ragnell and Alondite decided to admit Altina as a new partner upon her investment of P8,000. On this date, their interest in the partnership is Ragnell, P11,500, and Alondite, P9,300. Assuming that the new partner is given a 1/3 interest in the firm, the new capital balances of Ragnell, Alondite, and Altina, respectively, would be

16. Ragnell and Alondite are partners sharing profits in the ratio of 3:2, respectively. On January 1, Ragnell and Alondite decided to admit Altina as a new partner upon her investment of P8,000. On this date, their interest in the partnership is Ragnell, P11,500, and Alondite, P9,300. Assuming that the new partner is given a 1/3 interest in the firm, the new capital balances of Ragnell, Alondite, and Altina, respectively, would be

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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