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What is the capital of Cat after retirement of Amy? (2 Points) Amy,Bea and Cat share profits & losses in the ratio of 3:2:1,
What is the capital of Cat after retirement of Amy? (2 Points) Amy,Bea and Cat share profits & losses in the ratio of 3:2:1, respectively. It was agreed among the partners that Amy retires from the partnership and the partnership's assets to be adjusted to their fair value of P 210,000. The asset that is not fairly valued is an equipment with a book value of P 200,000. The partners further agreed to pay Amy P 64,000 cash for her total interest in the partnership. The capital balances of the partners before retirement of Amy are the following: Amy-50,000 Bea-150,000 Cat-75,000 Enter your answer 2 Partners A, B and C sharing profits and loss based on 4:3:2 ratio have the following condensed statement of financial position: Total assets Total liabilities A, Capital P 1,880,000 480,000 620,000 B, Capital 400,000 C, Capital 380,000 Total liabilities and capital P 1,880,000 D will be admitted as a new partner for 20% interest after he pays the three partners with a minimum of 10%. How much will the old partners transfer to D in order for him to have a 20% interest in the partnership? (2 Points)
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