A desire to purchase one-fourth of capital and profit and loss interest in the partnership of B, C, and D. The three partners agree to se A 20% of their respective capital and profit and loss interests in exchange for a total payment of P100,000. The payment is made directly to the individual partners. The capital accounts and the respective percentage interests in profits and losses immediately before the sale to A following B с D 168,000 104,000 48,000 50% 35% 15% Compute the capital balance to be credited to A.

A desire to purchase one-fourth of capital and profit and loss interest in the partnership of B, C, and D. The three partners agree to se A 20% of their respective capital and profit and loss interests in exchange for a total payment of P100,000. The payment is made directly to the individual partners. The capital accounts and the respective percentage interests in profits and losses immediately before the sale to A following B с D 168,000 104,000 48,000 50% 35% 15% Compute the capital balance to be credited to A.

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

A desire to purchase one-fourth of capital and profit and loss interest in the partnership of B, C, and D. The three partners agree to sell
A 20% of their respective capital and profit and loss interests in exchange for a total payment of P100,000. The payment is made
directly to the individual partners. The capital accounts and the respective percentage interests in profits and losses immediately
before the sale to A following
B
C
D
168,000
104,000
48,000
50%
35%
15%
Compute the capital balance to be credited to A.

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