Anton agrees to pay P24,500 for 35% of Amy's interest, but the assets must first be revalued, in the retail business owned by Angel and Amy whose capital balances are P65,800 and P85,000, respectively. Angel and Amy share profits and losses 40% and 60%, respectively. What is the capital balance of Angel after the admission of Anton?
Anton agrees to pay P24,500 for 35% of Amy's interest, but the assets must first be revalued, in the retail business owned by Angel and Amy whose capital balances are P65,800 and P85,000, respectively. Angel and Amy share profits and losses 40% and 60%, respectively. What is the capital balance of Angel after the admission of Anton?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Anton agrees to pay P24,500 for 35% of Amy's interest, but the assets must first be revalued, in the retail business owned by Angel and Amy whose capital balances are P65,800 and P85,000, respectively. Angel and Amy share profits and losses
40% and 60%, respectively. What is the capital balance of Angel after the admission of Anton?
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