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. OP5,000 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. OP5,000 each.
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63da332a-488b-4f1c-a255-95cdf204a105%2Fa83213bf-96e0-42e9-bb75-5decfc009d5b%2Fs328no9_processed.png&w=3840&q=75)
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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