The following balances are presented to you before admission of a new partner by purchase of interest: Cash, P85,000 Other assets, P415,000 Liabilities, P80,000 AA, Capital, P252,000 BB, Capital, P126,000 CC, Capital, P42,000 The partners agree to sell DD 20% of their respective capital and profit and loss interests for a total payment of P90,000. The capital balance of partner AA after the admission of DD is:

The following balances are presented to you before admission of a new partner by purchase of interest: Cash, P85,000 Other assets, P415,000 Liabilities, P80,000 AA, Capital, P252,000 BB, Capital, P126,000 CC, Capital, P42,000 The partners agree to sell DD 20% of their respective capital and profit and loss interests for a total payment of P90,000. The capital balance of partner AA after the admission of DD is:

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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