Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital balances and profit-sharing ratios: Mandan (36%) 140,000 Emeril (24%) 100,000 Fontenot (40%) 160,000 All investors agree to accept Boudreaux through into partnership on January 4, 2020 in exchange for a 25% stake in capital and earnings for his P120, 000 commitment. Assets of the Partnership shall not be reprised. What is Partner Mandan's capital position just after Boudreaux's admittance?

Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital balances and profit-sharing ratios: Mandan (36%) 140,000 Emeril (24%) 100,000 Fontenot (40%) 160,000 All investors agree to accept Boudreaux through into partnership on January 4, 2020 in exchange for a 25% stake in capital and earnings for his P120, 000 commitment. Assets of the Partnership shall not be reprised. What is Partner Mandan's capital position just after Boudreaux's admittance?

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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