Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They agreed to share equally in profits and losses. Both partners agree to accept a third investor, Harrison as a new partner with a 25% interest in the partnership. Harrison intends to invest P90,000 in cash. The bonus that is granted to Finch and Gerhardt equals Select the correct response: P15,500 each. P3,750 each. P10,000 each. P5,000 each.
Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They agreed to share equally in profits and losses. Both partners agree to accept a third investor, Harrison as a new partner with a 25% interest in the partnership. Harrison intends to invest P90,000 in cash. The bonus that is granted to Finch and Gerhardt equals Select the correct response: P15,500 each. P3,750 each. P10,000 each. P5,000 each.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They agreed to share
equally in profits and losses. Both partners agree to accept a third investor, Harrison as a new partner with a 25% interest
in the partnership. Harrison intends to invest P90,000 in cash. The bonus that is granted to Finch and Gerhardt equals
Select the correct response:
P15,500 each.
P3,750 each.
P10,000 each.
P5,000 each.
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