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272 PARTNERSHIP AND CORPORATION ACCOUNTING d. P150,000 5. The existing capital balances of Abnoy, Bitoy and Caloy prior to retirement of Abnoy were as follows: Partners Capital Profit and loss ratio Abnoy P150,000 2096 Bitoy 200,000 Calay 250,000 506 Abnoy retired from the partnership by selling his whole interest in the partnership to Doy for P120,000. This retirement of Abnoy will result in the total partnership's assets and capital as: Net assets Total capital P450,000 P450.000 b. P480.000 P460.000 P600,000 P600.000 P720,000 P720,000 6. The existing capital balances of Ali, Billy and Clay prior to retirement of Ali were as follows: Particry Capital Profit and loss ratio All P100,000 256 Billy 200.000 35% Clay 300,000 40% Ali retired from the partnership by selling his whole interest in the partnership to Billy 'and Clay for P120,000. This retirement of Ali will result in the total partnership's assets and capital as: NeLaparis Total capital P480,000 P480,000 P500,000 P500,000 P600,000 P600,000 P720,000 P720,000 7. Ba and Ka are partners who share profit and losses in the ratio of 7:3, respectively. On December 31, 200C, their respective capital accounts were as follows: Ba P350,000 Ka 300.000 Total capital P650.000 On that date, they agreed to admit Daw as a partner with a one-third interest in the capital and profits and losses, and upon his investment of P250,000, Under the bonus method, what are the capital balances of Bu, Ka, and Dew immediately after the admission of Daw? Ba. Capital Ka, Capital Daw, Capital a P350,000 P300.000 P325,000 P315,000 P285,000 P300,000 P316,667 P283.333 P300,000 P350,000 P300,000 P250,000