Vina and Mark are partners with capital balances of P30, 000 and P70, 000 respectively. Vina has
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Vina and Mark are partners with capital balances of P30, 000 and P70, 000 respectively. Vina has a 30% interest in profits and losses. At this time, the partnership has decided to admit Rose and Linda as new partners. Rose contributes cash of P55, 000 for a 20% interest in capital and a 30% interest in profits and losses. Linda contributes cash of P10, 000 and equipment for a 25% interest in capital and 35% interest in profits and losses. If bonus amounting to P18, 250 is given to the old partners, what is the value of the equipment contributed by Linda?
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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