AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted DDD as a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay P10,000 for 15% of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will be P70,000. What is the balance of BBB's capital, after the admission of CCC?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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a. 79,100
b. 81,100
c. 72,600
d. 74,600
 


AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital
balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted DDD as
a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay
P10,000 for 15% of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be
proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will
be P70,000. What is the balance of BBB's capital, after the admission of CCC?
Transcribed Image Text:AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted DDD as a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay P10,000 for 15% of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will be P70,000. What is the balance of BBB's capital, after the admission of CCC?
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