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what are the capital balances of Fred, Raul and Lory, respectively? * O P30,000 ; P30,000 ; P30,000 O P31,500 ; P28,500 ; P30,000 O P31,667 ; P28,333 ; P30,000

what are the capital balances of Fred, Raul and Lory, respectively? * O P30,000 ; P30,000 ; P30,000 O P31,500 ; P28,500 ; P30,000 O P31,667 ; P28,333 ; P30,000

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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TNT a O ON 68% I 11:15 Fred and Raul are partners who share profits and losses in the ratio of 7:3, respectively. Their respective capital accounts are as follows: Fred P35,000 , Raul P30,000. They agreed to admit Lory as a partner with a one-third interest in the capital and profits and losses upon investment of P25,000. The new partnership will begin with a total capital of P90,000. Immediately after Lory's admission, what are the capital balances of Fred, Raul and Lory, respectively? * P30,000 ; P30,000 ; P30,000 P31,500 ; P28,500 ; P30,000 P31,667 ; P28,333 ; P30,000 P35,000 ; P30,000 ; P25,000 Ben and Ric are partners who share profits and losses in the ratio of 6:4 , respectively. On May 1, 2019, their respective capital accounts were as
Transcribed Image Text:TNT a O ON 68% I 11:15 Fred and Raul are partners who share profits and losses in the ratio of 7:3, respectively. Their respective capital accounts are as follows: Fred P35,000 , Raul P30,000. They agreed to admit Lory as a partner with a one-third interest in the capital and profits and losses upon investment of P25,000. The new partnership will begin with a total capital of P90,000. Immediately after Lory's admission, what are the capital balances of Fred, Raul and Lory, respectively? * P30,000 ; P30,000 ; P30,000 P31,500 ; P28,500 ; P30,000 P31,667 ; P28,333 ; P30,000 P35,000 ; P30,000 ; P25,000 Ben and Ric are partners who share profits and losses in the ratio of 6:4 , respectively. On May 1, 2019, their respective capital accounts were as
TNT a O ON 68% I 11:15 Ben and Ric are partners who share profits and losses in the ratio of 6:4, respectively. On May 1, 2019, their respective capital accounts were as follows: Ben P60,000 , Ric P50,000. On that date, Lito was admitted as a partner with a one-third interest in capital and profits for an investment of P40,000. The new partnership began with a total capital of P150,000. Immediately after Lito's admission, Ben's capital account balance should be : * P50,000 О Р54,000 О Р56,667 O P60,000 Jose and Pedro are partners who share profits and losses in the ratio of 6:4, respectively. Jose's salary is P100,000 and Pedro is P50,000. The
Transcribed Image Text:TNT a O ON 68% I 11:15 Ben and Ric are partners who share profits and losses in the ratio of 6:4, respectively. On May 1, 2019, their respective capital accounts were as follows: Ben P60,000 , Ric P50,000. On that date, Lito was admitted as a partner with a one-third interest in capital and profits for an investment of P40,000. The new partnership began with a total capital of P150,000. Immediately after Lito's admission, Ben's capital account balance should be : * P50,000 О Р54,000 О Р56,667 O P60,000 Jose and Pedro are partners who share profits and losses in the ratio of 6:4, respectively. Jose's salary is P100,000 and Pedro is P50,000. The
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