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May and Jun are partners with profit and loss ratio of 50:50 and capital balances of P5,400,000 and P6,300,000, respectively. On June 09, 2022,
May and Jun are partners with profit and loss ratio of 50:50 and capital balances of P5,400,000 and P6,300,000, respectively. On June 09, 2022, Julie was admitted into the partnership by investing P8,100,000 for a 30% of the total partnership capitalization. How much is May's new capital after the admission of Julie?
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Principles Of Accounting
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton
1st Edition
978-0077300456, 0077300459
