Dusik is admitted to a partnershipwith a 25% capital interest by a cashinvestment of P120,000. If totalcapital of the partnership is P520,000before admitting Dusik, the bonus toDusik is *O P40,000.O P20,000.O P60,000.O P80,000.

Contribution of cash for 25% share in partnership

Answered: Dusik is admitted to a partnership with…

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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Dusik is admitted to a partnership with a 25% capital interest by a cash investment of P120,000. If total capital of the partnership is P520,000 before admitting Dusik, the bonus to Dusik is * P40,000. O P20,000. O P60,000. O P80,000.