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Rico, Sean and Tim are partners sharing profits in the ratio of 3:2:1 respectively. Capital accounts are P250,000, P150,000 and P100,000 on December 31, 2015

Rico, Sean and Tim are partners sharing profits in the ratio of 3:2:1 respectively. Capital accounts are P250,000, P150,000 and P100,000 on December 31, 2015 when Tim decides to withdraw. It is agreed...

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