Question
Bryan, Carla and Daniel are partners sharing profits in the ratio of 3:2;1 respectively. Capital accounts are P500,000, P300,000 and P200,000 on December 31, 2020
Bryan, Carla and Daniel are partners sharing profits in the ratio of 3:2;1 respectively.
Capital accounts are P500,000, P300,000 and P200,000 on December 31, 2020 when
Daniel decided to withdraw. It is agreed to pay P300,000 for Daniel's interest. Profits
after retirement of Daniel are to be shared equally?
What are the capital balances of Bryan and Carla after the retirement of Daniel?
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College Accounting Chapters 1- 9
Authors: James A Heintz, Robert W Parry
23rd Edition
1337794783, 978-1337794787
