18,000 BeTUre dumI3JIUIUalued equipment by P 12,000.Aller admission, what is the capital balance of Curly?a. P 42,800b. P 50,440C. P 42,000d. P 28,712Kurt, Eddie & Billy are partners with capital balances of P 34,900, P 26,400 & P 18,700respectively, sharing profits & losses in the ratio of 4:3:1. Evan is to be admitted as a new partnerbringing with him expertise & is to invest cash for a 28% interest in the partnership which includes adebit of P 4,940 for bonus upon his admission. How much cash should Evan contribute?32.

A partnership is a type of business that is conducted by two or more partners who agree to share the…

Answered: Kurt, Eddie & E respectively, sharing…

Business

Accounting

Kurt, Eddie & E respectively, sharing bringing with him e debit of P 4,940 for

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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Question

18,000 BeTUre dumI3JIU
IUalued equipment by P 12,000.
Aller admission, what is the capital balance of Curly?
a. P 42,800
b. P 50,440
C. P 42,000
d. P 28,712
Kurt, Eddie & Billy are partners with capital balances of P 34,900, P 26,400 & P 18,700
respectively, sharing profits & losses in the ratio of 4:3:1. Evan is to be admitted as a new partner
bringing with him expertise & is to invest cash for a 28% interest in the partnership which includes a
debit of P 4,940 for bonus upon his admission. How much cash should Evan contribute?
32.

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