Question
The TVJ Partnership shows the following profit and loss ratio and updated capital balances of the partners: Tito50%P342,000Vic30%P247,000Joey20%P172,000 The partners decide to sell part of
- The TVJ Partnership shows the following profit and loss ratio and updated capital balances of the partners:
The partners decide to sell part of their interest to Allan. The old partners, Tito, Vic, and Joey sell 40%, 15%, and 20% of their respective capital interest for a total payment of P233,000.
What amount is credited to the capital account of Allan upon his admission?
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Effective Writing A For Accountants
Authors: Claire B. May, Gordon S. May
9th Edition
0132567245, 9780132567244
