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MAX & EMPRESS. Partner s Max and Empress have capital balances of P 3 5 8 , 5 0 0 and P 3 0 0
MAX & EMPRESS. Partners Max and Empress have capital balances of P and P respectively before the admission of Princess. Max and Empress share profits and losses in the ratio : Princess paid P in exchange for capital interest as well as share in the profits and losses of the partnership.
How much is the capital of partner Max after admission of Princess?
How much is debited to Empresss capital upon Princesss admission?
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