Question
Sandra and Joshua are partners. They have capital account balances of P250, 000 and P200, 000, respectively, and they share profits and losses 70/30. The
Sandra and Joshua are partners. They have capital account balances of P250, 000 and P200, 000, respectively, and they share profits and losses 70/30. The partners are considering admitting Judy as a new partner with a 25 percent equity interest for an investment in the partnership of P180, 000. Before admission, Sandra and Joshua will revalue the partnerships assets. If the net increase in the partnerships assets is P125, 000, what will be the balance in Sandras capital account immediately before Judys admission?
Sandra and Joshua are partners. They have capital account balances of P250, 000 and P200, 000, respectively, and they share profits and losses 70/30. The partners are considering admitting Judy as a new partner with a 25 percent equity interest for an investment in the partnership of P180, 000. Before admission, Sandra and Joshua will revalue the partnerships assets. If the net increase in the partnerships assets is P125, 000, what will be the balance in Sandras capital account immediately before Judys admission?
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
978-0176509736
