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Carlos and Deo are partners who share profits and losses in the ratio of 7:3 respectively. On October 5, 2021, their respective capital accounts
Carlos and Deo are partners who share profits and losses in the ratio of 7:3 respectively. On October 5, 2021, their respective capital accounts were as follows: Carlos Deo P35,000 30,000 On that date they agreed to admit Sotto as a partner with a one-third interest in the capital and profit and losses, and upon his investment of P25,000. The new partnership will begin with a total capital of P90,000. Immediately after Sotto's admission, what are the capital balances of Carlos? * (2 Points) Enter your answer Ell and Emm are partners sharing profits 60% and 40%, respectively. On January 1, Ell and Emm decided to admit Enn as a new partner upon his investment of P8,000. On this date, their interests in the partnership are as follows: Ell, P11,500; Emm, P9,300. Assuming that the new partner is given a 1/3 interest in the firm. What is the new capital balance of Ell after the admission of Enn? * (2 Points) Enter your answer
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