Partnership Dissolution

7. Ro invests P160,000 in a partnership for a one-fifth interest. Prior to Ro's admission, the partnership had two partners with capital balances of P250,000 each. If no asset revaluation is recognized prior to Ro admission, What total amount is credited to the old partner's capital account? a) P528,000 b) P132,000 c) P500,000 d) P160,000 8. Assets and liabilities are recorded at the current fair values and no asset revaluation nor bonus will be considered. My is to be admitted as a new partner with 20% capital interest and a 20% share of profits and losses in exchange for a cash investment. Determine the amount of investment to be contributed by My. a) P150,000 b) P120,000 c) P675,000 d) P135,000 9. Li and La are partners with capital contributions of P200,000 and P300,000 respectively for a 4/5 interest. They share profits in the ratio of 60% for Li and 40% for La. With the consent of all partners, Le was accepted as a new partner for a cash investment of P100,000. How much capital will be credited to Le upon her admission? a) P125,000 b) P180,000 c) P150,000 d) P100,000 7. Ro invests P160,000 in a partnership for a one-fifth interest. Prior to Ro's admission, the partnership had two partners with capital balances of P250,000 each. If no asset revaluation is recognized prior to Ro admission, What total amount is credited to the old partner's capital account? a) P528,000 b) P132,000 c) P500,000 d) P160,000 8. Assets and liabilities are recorded at the current fair values and no asset revaluation nor bonus will be considered. My is to be admitted as a new partner with 20% capital interest and a 20% share of profits and losses in exchange for a cash investment. Determine the amount of investment to be contributed by My. a) P150,000 b) P120,000 c) P675,000 d) P135,000 9. Li and La are partners with capital contributions of P200,000 and P300,000 respectively for a 4/5 interest. They share profits in the ratio of 60% for Li and 40% for La. With the consent of all partners, Le was accepted as a new partner for a cash investment of P100,000. How much capital will be credited to Le upon her admission? a) P125,000 b) P180,000 c) P150,000 d) P100,000