Question
15. Rosemarie and Rose are partners sharing profits and losses in the ratio of 7:3 respectively. On February 14, 2020, their respective capital balances are
15. Rosemarie and Rose are partners sharing profits and losses in the ratio of 7:3 respectively. On February 14, 2020, their respective capital balances are as follows: Rosemarie: P 35, 000; Rose: P 30, 000. On that day, they agreed to admit Rosauro as partner with one third interest in the capital and profits and losses upon investment of P 25, 000. The new partnership will begin with a total capital of P 90, 000. Immediately after the admission of Rosauro, the capital balances of Rosemarie, Rose and Rosauro respectively must be:
a. P 30, 000; P 30, 000; P 30, 000
b. P 31, 667; P 28, 333; P30, 000
c. P 31, 500; P 28, 500; P 30, 000
d. P 35, 000; P 25, 000; P 30, 000
e. answer not given
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