20% interest, how much m
The following are the capital balances and share in each profit of Ring
Aragorn 300 50%
Legolas 200 30%
Gimli 200 20%
1. If Gandalf was admitted by investing sufficient cash for 20% interest, how much must be his investment?
2. If Gandalf was admitted by paying the partners P100 for 10% interest in the firm, how much will be the capital of Aragorn after the admission if
implied
3. How much did Gandalf have invested for 25% interest if after his admission in the firm the capital balance of Legolas increased by P24?
4. If Gimli withdrew from the firm and received P280, how much is the capital of Legolas if prior to withdrawal, the firm recorded a goodwill of
P200.
5. If the partnership was liquidated and P50 is ready for distribution, how much will Gimli received?
6. If the partnership was liquidated and Gimli received P140, how much did Legolas received? (Aragorn is insolvent)
7. if all non-cash assets were sold at a loss of P200, how much did Gimli received if the firm paid all its liabilities of P100 (at book value)?
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