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A. B and C share profits in the ratio of 2:3:5. On January 2, 2021 C opted to retire from the partnership. The capital
A. B and C share profits in the ratio of 2:3:5. On January 2, 2021 C opted to retire from the partnership. The capital balances on this date follow: A, Capital P 175,000 B, Capital C, Capital 280,000 245,000 At what amount should the capital account of A be debited assuming C was paid P273,000 by the partnership in full settlement of his interest?
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Accounting Information Systems The Processes and Controls
Authors: Leslie Turner, Andrea Weickgenannt
2nd edition
9781118473030, 1118162307, 1118473035, 978-1118162309
