Tina, Lou and Lena are partners sharing profits and losses in the ratio of 1:2:2 and have a capital balances of P600,000, P300,000, P500,000 respectively. Rod will purchase 2/3 of Tina's interest, paying her directly for an amount less than P50,000 Compute the Capital balances of the partners after Rod admission Tina, Capital al Lou, Capital Lena, Capital C. P. Rod, Capital Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the assets of the partnership, using as a basis the amount Rod is willing to pay. Compute the Capital balances of the partners after Rod admission el Tina, Capital S. 2) Lou, Capital Rod, Capital Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the assets of the partnership, using as a basis the amount Rod is willing to pay. Compute the Capital balances of the partners after Rod admission e Tina, Capital Lou, Capital 6. Lena, Capital Rod, Capital Rod wll invest P1,200,000 for 1/2 interest in the partnership and be given a goodwill credit. How much is? Rod. Capital (including goodwill) Tina, Capital (after rod admission)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tina, Lou and Lena are partners sharing profits and losses in the ratio of 1:2:2 and have a capital balances of P600,000,
P300,000, P500,000 respectively.
Rod will purchase 2/3 of Tina's interest, paying her directly for an amount less than P50,000
Compute the Capital balances of the partners after Rod admission
Tina, Capital
al
Lou, Capital
Lena, Capital
C.
P.
Rod, Capital
Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the
assets of the partnership, using as a basis the amount Rod is willing to pay.
Compute the Capital balances of the partners after Rod admission
el
Tina, Capital
S.
2)
Lou, Capital
Transcribed Image Text:Tina, Lou and Lena are partners sharing profits and losses in the ratio of 1:2:2 and have a capital balances of P600,000, P300,000, P500,000 respectively. Rod will purchase 2/3 of Tina's interest, paying her directly for an amount less than P50,000 Compute the Capital balances of the partners after Rod admission Tina, Capital al Lou, Capital Lena, Capital C. P. Rod, Capital Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the assets of the partnership, using as a basis the amount Rod is willing to pay. Compute the Capital balances of the partners after Rod admission el Tina, Capital S. 2) Lou, Capital
Rod, Capital
Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the
assets of the partnership, using as a basis the amount Rod is willing to pay.
Compute the Capital balances of the partners after Rod admission
e
Tina, Capital
Lou, Capital
6.
Lena, Capital
Rod, Capital
Rod wll invest P1,200,000 for 1/2 interest in the partnership and be given a goodwill credit. How much is?
Rod. Capital (including goodwill)
Tina, Capital (after rod admission)
Transcribed Image Text:Rod, Capital Rod pays P250,000 to Lou for a 1/2 of her share in the partnership. Partners' aggree that it is time to revaluate the assets of the partnership, using as a basis the amount Rod is willing to pay. Compute the Capital balances of the partners after Rod admission e Tina, Capital Lou, Capital 6. Lena, Capital Rod, Capital Rod wll invest P1,200,000 for 1/2 interest in the partnership and be given a goodwill credit. How much is? Rod. Capital (including goodwill) Tina, Capital (after rod admission)
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