Kind and Lucky formed a partnership by contributing cash amounting to P240,000 and P480,000 respectively on January 1, 2021. They agreed to share profits and losses in the ratio of 3:2. During the first year of operation, both Kind and Lucky made a withdrawal of P50,000 and P80,000 respectively. They also reported a net profit of P175,000. At the start of the following year, they agreed to admit Mature into the partnership by purchasing one-fourth interest from the partners for P300,000. How much is the capital balance of Kind after admission?

Partners A and B formed a partnership on January 1, 2020 where Partner A invested P500,000 while Partner B invested P300,000. Profit and loss as agreed upon by partners is to be shared in the ratio of the original capital. The drawing accounts of Partners A and B have debit balances of P24,000 and P12,000 respectively. Net income for the period ending December 31, 2020 amounted to P180,200. What is capital balance of Partner B for the year ending December 31, 2020?

Ebanks, Brown, and Thomas are partners. They carry on a business jointly as EBT surveyors and share profits and losses in the ratio 25:45: 30.    The trading account profit as at 31 December 2021 was $6,500,000 after charging a nominal tax of $750,000.                                                           Notes: The partners receive interest on their capital accounts at 9.5 % on the balance of their partner capital at the end of the budget year. The interest on the capital account was not included in the income statement. Include in the income statement is $80,000 salary per month for each partner. The partnership paid motor vehicle expenses for vehicles owned by the partners as follows: Ebanks -$ 50,000 Brown - $80,000 Thomas - $130,000              The partners did not use the vehicles for the partnership business.  Profit on disposal was $180,000. Depreciation on plant and machinery for the year was $900,000. In recognition of the new IFRS 9 standard, a provision for bad…