Question
A, B and C are partners sharing profits 20:30:50, and have capital balances of P80,000, P160,000 and P60,000, respectively. A is withdrawing from the partnership
A, B and C are partners sharing profits 20:30:50, and have capital balances of P80,000, P160,000 and P60,000, respectively. A is withdrawing from the partnership for P60,000 but he is to take a certain equipment at an agreed value of P30,000.
After A's withdrawal, determine the capital balance of B and C and the cash settlement of A assuming that the book value of equipment is P50,000.
B's capital Blank 1 C's capital - Blank 2
Cash settlement - Blank 3
After A's withdrawal, determine the capital balance of B and C and the cash settlement of A assuming that the book value of equipment is P20,000.
B's capital - Blank 4
C's capital - Blank 5
Cash settlement - Blank 6
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The Internet Market Research Audit
Authors: Cambridge
1st Edition
1902433742, 978-1902433745
