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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 her
admission?
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