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PROBLEM B Q and R are partners sharing profits and losses in the ratio of 60:40. Q has capital fP75,000 and R has a capital of P150,000. On October 1, 2021, they agreed to ccept P into the partnership. Cequired: Compute for the capital balances after admission for each of the independent cases: P contributes P75,000 for a 1/4 interest. 7. How much is the capital of Q after admission of P 8. How much is the capital of R after admission of P 9. How much is the capital of P Case 3 Case 4 P contributes P100,000 for a 1/4 interest. 10. How much is the capital of Q after admission of P 11. How much is the capital of R after admission of P 12. How much is the capital of P Case 5 P contributes P55,000 for a 1/4 interest. 13. How much is the capital of Q after admission of P 14 How much is the capital of R after admission of P 15. How much is the canital of P

PROBLEM B Q and R are partners sharing profits and losses in the ratio of 60:40. Q has capital fP75,000 and R has a capital of P150,000. On October 1, 2021, they agreed to ccept P into the partnership. Cequired: Compute for the capital balances after admission for each of the independent cases: P contributes P75,000 for a 1/4 interest. 7. How much is the capital of Q after admission of P 8. How much is the capital of R after admission of P 9. How much is the capital of P Case 3 Case 4 P contributes P100,000 for a 1/4 interest. 10. How much is the capital of Q after admission of P 11. How much is the capital of R after admission of P 12. How much is the capital of P Case 5 P contributes P55,000 for a 1/4 interest. 13. How much is the capital of Q after admission of P 14 How much is the capital of R after admission of P 15. How much is the canital of P

FINANCIAL ACCOUNTING
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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28 9 PROBLEM B Q and R are partners sharing profits and losses in the ratio of 60 40. Q has capital 1 of P75,000 and R has a capital of P150,000. On October 1, 2021, they agreed to 2 accept P into the partnership. 3 Required: Compute for the capital balances after admission for each of the independent cases P contributes P75,000 for a 1/4 interest. 7. How much is the capital of Q after admission of P 8. How much is the capital of R after admission of P 9. How much is the capital of P 5 Case 3 7 0 Case 4 1 P contributes P100,000 for a 1/4 interest. 10. How much is the capital of Q after admission of P 11. How much is the capital of R after admission of P 12. How much is the capital of P 5 Case 5 -6 P contributes P55,000 for a 1/4 interest. 13. How much is the capital of Q after admission of P 14. How much is the capital of R after admission of P 15. How much is the capital of P 19 3.
Transcribed Image Text:28 9 PROBLEM B Q and R are partners sharing profits and losses in the ratio of 60 40. Q has capital 1 of P75,000 and R has a capital of P150,000. On October 1, 2021, they agreed to 2 accept P into the partnership. 3 Required: Compute for the capital balances after admission for each of the independent cases P contributes P75,000 for a 1/4 interest. 7. How much is the capital of Q after admission of P 8. How much is the capital of R after admission of P 9. How much is the capital of P 5 Case 3 7 0 Case 4 1 P contributes P100,000 for a 1/4 interest. 10. How much is the capital of Q after admission of P 11. How much is the capital of R after admission of P 12. How much is the capital of P 5 Case 5 -6 P contributes P55,000 for a 1/4 interest. 13. How much is the capital of Q after admission of P 14. How much is the capital of R after admission of P 15. How much is the capital of P 19 3.
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