PARTNERS CAPITAL BALANCES P/L Ratio

Jeil 120,000 40%

Neil 160,000 30%

Bebie 100,000 30%

Macmac is admitted into the partnership by allowing him to purchase 1/5 of the partnership interest for 90,000.

Required:

1. At what amount will Macmac, the new partner be credited upon admission?
2. What would be the partners' new profit and loss ratio after Macmac's admission?

Jeil, Neil, Bebie respectively

3.Amount of bonus if any

4.How much is the respective share of the old partners on the 90,000 payment of Macmac?

Jeil

Neil

Bebie

Note: The following data is used for six (6) requirements. Items below is based on this given data: Partners Capital Balances P/L Ratio Jeil P120.000 40% Neil 160,000 30% Bebie 100,000 30% Macmac is admitted in the partnership by allowing him to purchase 1/5 of the partnership interest for P90.000. Required: 1. At what amount will Macmac, the new partner be credited upon admission? 2. What would be the partners new profit and loss ratio after Macmac's admission? Jeil, Neil, Bebie respectively (use comma(,) as separator example 10%,20%,30%) 3. Amount of Bonus if any 4. How much is the respective share of the old partners on the P90,000 payment of Macmac? Jeil Neil Bebie Answer: 4. How much is the respective share of the old partners on the P90,000 payment of Macmac? Bebie