Anna, Ben, and Carl are partners sharing profits and losses in a 1:2:2 ratio. Anna retired from the partnership and received P163,000 cash from the partnership. Prior to Anna's retirement, Anna, Ben, and Carl had capital balances of P120,000, P180,000, and P200,000, respectively, before recognition of any bonus. Under the bonus method, how much would be Ben, Capital balance immediately after Anna's retirement from the partnership?
Anna, Ben, and Carl are partners sharing profits and losses in a 1:2:2 ratio. Anna retired from the partnership and received P163,000 cash from the partnership. Prior to Anna's retirement, Anna, Ben, and Carl had capital balances of P120,000, P180,000, and P200,000, respectively, before recognition of any bonus. Under the bonus method, how much would be Ben, Capital balance immediately after Anna's retirement from the partnership?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 12DQ
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