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I, LOVE and DU20 sharing capital and profits and losses 5:3:2, have capital credit balances of P200,000, P150,000 and P100,000 respectively. They decided to admit
I, LOVE and DU20 sharing capital and profits and losses 5:3:2, have capital credit balances of P200,000, P150,000 and P100,000 respectively. They decided to admit a new partner, ENRILE to a 30% interest in the partnership upon ENRILE's investment of an amount equal to five-sixths (5/6) of her capital credit with no revaluation adjustment recognized.Immediately after the admission of ENRILE, the capital credit balance of LOVE will be:
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