Partners YacapPartners Yacapin, Babaran, and Cuenca share profits and losses in a in, Babaran, and Cuenca share profits and losses in a 5:3:2 ratio, respective 5:3:2 ratio, respectively. Yacapinly. Yacapinwishes to leave the partnership, so the assets are revalued and are found to be overvalued by ₱60,000.wishes to leave the partnership, so the assets are revalued and are found to be overvalued by ₱60,000.If each partner had a capital balance of ₱200,000 prior to Yacapin’s notification of withdrawal, whatIf each partner had a capital balance of ₱200,000 prior to Yacapin’s notification of withdrawal, whatamount should Yacapin be allowed to withdraw from the partnership?amount should Yacapin be allowed to withdraw from the partnership?aa.. ₱₱114400,,000000cc. . ₱₱117700,,000000bb.. ₱₱118800,,000000dd. . ₱₱223300,,00000
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
. Partners YacapPartners Yacapin, Babaran, and Cuenca share
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