On December 31, 2020, the Statement of Financial Position of SAIYAN Partnership provided the following data with profit or loss ratio of 1:6:3: Current Assets P1,000,000 Total Liabilities P600,000 Goku, Capital Vegeta, Captal Gohan, Capital Non-Current Assets P2,000,000 P900,000 P800,000 P700,000 On January 01, 2021, Trunks is admitted to the partnership by purchasing 40% of the capital interest of Vegeta at a price of P500,000. 13. What is the capital balance of Vegeta after the admission of Trunks on January 01, 2021?

On December 31, 2020, the Statement of Financial Position of SAIYAN Partnership provided the following data with profit or loss ratio of 1:6:3: Current Assets P1,000,000 Total Liabilities P600,000 Goku, Capital Vegeta, Captal Gohan, Capital Non-Current Assets P2,000,000 P900,000 P800,000 P700,000 On January 01, 2021, Trunks is admitted to the partnership by purchasing 40% of the capital interest of Vegeta at a price of P500,000. 13. What is the capital balance of Vegeta after the admission of Trunks on January 01, 2021?

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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