Bianca, Mariel and Toni are partners with capital balances of P100,000, P140,000, and P180,000, respectively. They share profits and losses in the ratio of 10:15:20. Toni decides to withdraw from the partnership receiving P240,000 including a loan a loan to the partnership in the amount of P10,000 Using asset revaluation method, how much is the amount of asset revaluation?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bianca, Mariel and Toni are partners with capital balances of P100,000, P140,000, and P180,000, respectively. They share profits and losses in the ratio of 10:15:20. Toni decides to withdraw from the partnership receiving P240,000 including a loan a loan to the partnership in the amount of P10,000 Using asset revaluation method, how much is the amount of asset revaluation?

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