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27.

Question 27 0 l 1 Pts Snow and Sky are partners who share prots and losses in the ratio of 6:4. On March 1. 2023 the following data are available from the books of the partnership. Cash P80.000 Accounts payable P280,000 Accounts receivable 120.000 Snow. capital 300,000 Inventory 300.000 Sky. capital 500,000 Equipment. net 500.000 Snow. drawings (50,000] Sky, drawings (30,000) Total P1.000.000 Total P1.000.000 The net income of the partnership prior to admission of Shadow is P50,000. Also, the partners agreed to revalue the inventory to P320000 and equipment to P530000. Shadow is to be admitted for 25% interest in the partnership by direct purchase from the partners for P250000. How much capital is credited to Shadow? . 250.000 225,000 (with margin: 0} ' n1 Question 28 D I 1 9'5 .. Psalm and Trisha have capital balances of P150000 and P180000. respectively. Glenda is to invest P60.000 for 15% in the partnership interest and also in the prot and loss. There is an undistributed net income in the amount of P80.000. Partners Psalm and Trisha share prot and loss 65:35. How much is the capital of Psalm after Glenda's admission? 203.000 195,175 (with margin: 0) Question 29 0 / 1 \"ts Jose, Josie. and Josel are partners sharing prots and losses of 30%. 30%. and 10%, respectively. The December 31, 2023 trial balance included the following information: Debits Credits Cash P400,000 Accounts Payable P50,000 Inventories 500.000 Josel. Loan 40,000 Equipment 700.000 Jose. Capital 800,000 Patent 100,000 Josie. Capital 900,000 Josel. Capital 500.000 Net Loss (590.000) Total P1700000 Total P1.700,000 On January 1. 2024. a partner decided to retire from the partnership and by mutual agreement among the partners, the following adjustments shall be made: 1. Inventories amounting to P50.000 is considered obsolete and must be written off. 2. The fair value of the equipment is P250000. Josel retired and received P250000 in settlement of her total interest. How much is the capital of Josie after the retirement of Josel? ' 130,000 !rs _ 500.000 {with margin: 0)