3-4. Daniel, Edwin and Farida are partners in a real estate business. The capital balances of the partners are: Daniel, P550,000; Edwin, P500,000 and Farida P450,000. The partners share profits and losses equally. Girlie was admitted in the partnership by buying 20% interest of Daniel for P100,000; 25% interest of Edwin for P150,000 and 10% interest of Farida for P45,000. What is the capital credit of Girlie upon he admission?

3-4. Daniel, Edwin and Farida are partners in a real estate business. The capital balances of the partners are: Daniel, P550,000; Edwin, P500,000 and Farida P450,000. The partners share profits and losses equally. Girlie was admitted in the partnership by buying 20% interest of Daniel for P100,000; 25% interest of Edwin for P150,000 and 10% interest of Farida for P45,000. What is the capital credit of Girlie upon he admission?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter15: Partnership Accounting

Section: Chapter Questions

Problem 14MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...

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