Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Diego, Diether and Dewnuel are partners with capital balances of P80,000, P120,000 and P 160,000 respectively. They share in the profits and losses in the
Diego, Diether and Dewnuel are partners with capital balances of P80,000, P120,000 and P 160,000 respectively. They share in the profits and losses in the ratio of P 30:40:30. Diether decides to withdraw from the partnership. He receives P150,000 in settlement of his interest. Select match If the bonus method is used, what is the capital balance of Dewnuel immediately after the retirement of Diether? Select match Using the information above, and assuming asset revaluation was used, what is the capital balance of Dewnuel immediately after the retirement of Diether? Select match Assuming Diether was paid P120,000, what is the capital balance of Diego immediately after the retirement of Diether? Select match assuming bonus method is used, what is the total partnership capital immediately after the retirement of Diether
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started