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Ornoza & Caponpon are partners sharing profits in the ratio 3:2 respectively. On Jan.1 they decided to admit Manalo as a new partner upon his
Ornoza & Caponpon are partners sharing profits in the ratio 3:2 respectively. On Jan.1 they decided to admit Manalo as a new partner upon his investment of 8,000. On this date, their interests in the partnership are as follows Ornoza 11,500: Caponpon 9,300. Assuming the new partner is given a 1/3 interest in the firm, with bonus being allowed to the new partner, the new capital balances would be: 11,520.,7,680.and 9,600. O 12,480., 8,320. and 8,000 10,540.. 8,660. and 9,600 O 11,500..9,300. and 8,000
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