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4. Jaz,Baron and Corrie are partners who share profits and losses in a 5:3:2 5 points ratio and on January 1 of the current year,
4. Jaz,Baron and Corrie are partners who share profits and losses in a 5:3:2 5 points ratio and on January 1 of the current year, have capital balances of P90,000, P160,000 and P200,000, respectively. Corrie withdrew from the partnership on July 1 of the current year and the partners agreed that, as of this date, certain inventory items would have to be revalued at $70,000 from their recorded cost of P50,000. For the six-month period ending June 30 of the current year, the partners realized a net income of P130,000. The partners decided that Corrie should be paid P245,000 for his interest. The payment to Corrie included bonus from remaining partners of: 15,000 19,000 -0- O 20,000 5. Using the same information in #4, the capital balances of the remaining partners after the withdrawal of Corrie would be: * O Jaz-P165,000; Baron - P205,000 O $ Jaz - 155,625, Baron - 199,375 o Jaz - $150,000, Baron - P200,000 O Jaz - 90,000, Baron - $160,000
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