Marcus are partin eir respective profit and loss ratio: Сapital P3,000,000 Profit and Loss Ratio vi o uel 40% 60 % cus 20xx Marshall is admitted to the partnership when he purchae e interest from Manuel and Marcus in the net assets and profits P4,500,000 TORult Marshall acquired 1/3 interest in th

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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4. What is the combined gain realized by Manuel and Marcus upon the sale of a
portion of their interest in the partnership to Marshall?
a. P400,000
b. Р300,000
c. P200,000
d. P100,000
e. Not given
at June 30
s What is the gain realized by Manuel upon the sale of a portion of his interest in
the partnership to Marshall?
a. P120,000
b. P110,000
c. P100,000
d. P 80,000
e. Not given
burchased a
cofits of the
in the ne
mission
6. What is the gain realized by Marcus upon the sale of a portion of his interest in
by
the partnership to Marshall?
a. P120,000
b. P110,000
c. P100,000
d. P 80,000
e. Not given
nership?
7. What is the percentage share of Manuel in the profits and losses?
a. 44.4 %
b. 40.0 %
с. 33.3%
d. 26.7%
e. Not given
8. What is the percentage share of Marcus in the profits and losses?
a. 44.4 %
b. 40.0 %
c. 33.3 %
d. 26.7%
e. Not given
135
Transcribed Image Text:4. What is the combined gain realized by Manuel and Marcus upon the sale of a portion of their interest in the partnership to Marshall? a. P400,000 b. Р300,000 c. P200,000 d. P100,000 e. Not given at June 30 s What is the gain realized by Manuel upon the sale of a portion of his interest in the partnership to Marshall? a. P120,000 b. P110,000 c. P100,000 d. P 80,000 e. Not given burchased a cofits of the in the ne mission 6. What is the gain realized by Marcus upon the sale of a portion of his interest in by the partnership to Marshall? a. P120,000 b. P110,000 c. P100,000 d. P 80,000 e. Not given nership? 7. What is the percentage share of Manuel in the profits and losses? a. 44.4 % b. 40.0 % с. 33.3% d. 26.7% e. Not given 8. What is the percentage share of Marcus in the profits and losses? a. 44.4 % b. 40.0 % c. 33.3 % d. 26.7% e. Not given 135
Multiple Choice - III
20xx with their respective profit and loss ratio:
Profit and Loss Ratio vi
Capital
P3,000,000
P4,500,000
40 %
Manuel
60 %
Marcus
partnership for P2,700,000. As a result Marshall acquired 1/3 interest in the e
assets and profits of the firm.
1. What is the total capital balance of the partnership after the admission by
Marshall? A
a. P10,200,000
b. P10,500,000
c. P 7,700,000
d. P 7,500,000
000.000 %
000,00
e. Not given
2. What is the capital share of Marshall after he was admitted in the partnership?
a. P2,700,000
b. P2,500,000
c. P1,600,000
d. P1,100,000
e. Not given
3. What is the percentage share of Marshall in the profits and losses?
a. 44.4%
b. 40.0 %
c. 33.3 %
d. 26.7%
e. Not given
Transcribed Image Text:Multiple Choice - III 20xx with their respective profit and loss ratio: Profit and Loss Ratio vi Capital P3,000,000 P4,500,000 40 % Manuel 60 % Marcus partnership for P2,700,000. As a result Marshall acquired 1/3 interest in the e assets and profits of the firm. 1. What is the total capital balance of the partnership after the admission by Marshall? A a. P10,200,000 b. P10,500,000 c. P 7,700,000 d. P 7,500,000 000.000 % 000,00 e. Not given 2. What is the capital share of Marshall after he was admitted in the partnership? a. P2,700,000 b. P2,500,000 c. P1,600,000 d. P1,100,000 e. Not given 3. What is the percentage share of Marshall in the profits and losses? a. 44.4% b. 40.0 % c. 33.3 % d. 26.7% e. Not given
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