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3-6: Banzon and Cortez are partners who share profits and losses in the ratio of 6:4. On January 1, 2013 their capital balances are: Banzon

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3-6: Banzon and Cortez are partners who share profits and losses in the ratio of 6:4. On January 1, 2013 their capital balances are: Banzon Cortez P 80,000 20,000 Total P100,000 Dizon is to be admitted for a 20 percent interest in the partnership by direct purchase from the partners for P30,000. How should the P30,000, cash be divided between Banzon and Cortez? 3-7: Perez contributed P24,000 and Cadiz contributed P48,000 to form partnership, and they agreed to share profits in the ratio of their original capital contributions. During the first year of operations, they made a profit of P16,290; Perez withdrew P5,050 and Cadiz P8,000. At the start of the following year, they agreed to admit Gomez into the partnership. He was to receive a one-fourth interest in the capital and profits upon payment of P30,000 to Perez and Cadiz, whose capital accounts were to be reduced by transfers to Gomez's capital account of amounts sufficient to bring them back to their original capital ratio. How should the P30,000 paid by Gomez be divided between Perez and Cadiz. 3-9: On December 31, 2013, Alan and Dino are partners with capital balances of P80,000 and P40,000, respectively. They share profits and losses in the ratio of 2:1. On this date Steve invests P36,000 cash for a one-fifth interest in the capital and profit of the new partnership. The partners agree that the unrecorded partnership goodwill is to be recorded simultaneously with the admission of Steve. The total unrecorded goodwill of the firm is: 3-8: The following statement of financial position is for the partnership of Alice, Betty, and Clara, before the admission of Diana: Cash P 20,000 Other assets 180,000 Total P200,000 Liabilities 50,000 Alice, capital (40%) 37,000 Betty, capital (40%) 65,000 Clara, capital (20%) 48,000 Total P200,000 If the assets are fairly valued and the partnership wishes to admit Diana as a new one-sixth-interest partner without recording goodwill or bonus, Diana should contribute cash of

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