In the AD partnership, Allen's capital is P140,000 and Daniel's is P40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. What amount will David have to invest to give him one-fifth percent interest in the capital of the partnership if no goodwill or bonus is recorded?

In the AD partnership, Allen's capital is P140,000 and Daniel's is P40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. What amount will David have to invest to give him one-fifth percent interest in the capital of the partnership if no goodwill or bonus is recorded?

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter14: Partnerships And Limited Liability Entities

Section: Chapter Questions

Problem 22P

See similar textbooks

Similar questions

In the AD partnership, Allen's capital is P140,000 and Daniel's is P40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. What amount will David have to invest to give him one-fifth percent interest in the capital of the partnership if no goodwill or bonus is recorded?
Show all Workings for upvote?
In the RST partnership, Ron's capital is P80,000, Stella's is P75,000, and Tiffany's is P50,000. They share income in a 3:2:1 ratio, respectively. Tiffany is retiring from the partnership. Tiffany is paid P56,000, and asset revaluation is recorded. What is the total amount of asset revaluation recorded?
not use ai please
K. Partners Prada, Paris and Paco have capital balances of P 90,000, P 70,000 and P 40,000 respectively and they share profits in the ratio of 3:3:4. Paco is no longer willing to contribute the amount of time and effort to the partnership. If Paris purchases Paco's interest for P 64,000, what is the balance of Paris' capital account after the withdrawal of Paco?
What is the correct answer to the question?
What is the answer to this question?
What is the correct answer to the question?
Daphne, Buddy, and Divine have equities in a partnership of P600,000, P900,000, and P500,000, respectively, and share profits and losses in a ratio of 2:1:2, respectively. The partners have agreed to admit Amy to the partnership. If Amy invested P500,000 for a 30% interesAnst how much is Amy’s capital credit? Answer without peso signs but with commas.
Partners Prada, Paris and Paco have capital balances of P 90,000, P 70,000 and P 40,000 respectively and they share profits in the ratio of 3:3:4. Paco is no longer willing to contribute the amount of time and effort to the partnership. If Paris purchases Paco's interest for P 64,000, what is the balance of Paris' capital account after the withdrawal of Paco?
What is the answer to this question?
A and B have capital balances of P150,000 and P180,000, respectively. C is to invest P60,000 for 15% in the partnership interest and also in the profit and loss. There is an undistributed net income in the amount of P80,000. Partners A and B share profit and loss 65.35. 1. How much is the capital credit of C upon his admission? 2.How much is the bonus to partner A from partner C? 3.If equipment is overvalued, how much is the share of partner B in the overvaluation of the equipment?