Question
Partners Tito and Vic have capital balances of P179,250 and P150,000 respectively before admitting Joey. Tito and Vic share profits and losses in the ratio
Partners Tito and Vic have capital balances of P179,250 and P150,000 respectively before admitting Joey. Tito and Vic share profits and losses in the ratio 3:2. Joey invested P122,500 in exchange for 30% interest in the partnership as well as the profits and losses. How much is the capital of partner Vic after the admission of Joey?
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