e capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership. Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
e capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership. Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The capital balances of the partners on December 31, 2021 were: Noble (50%) - P200,000; Obedient (30%) - P300,000 and Patient (20%) - P400,000. Because of long dispute with Noble, Patient decided to withdraw from the partnership .
Assuming the interest of Patient is sold to new partner for P410,000, how much is the capital balance of Noble?
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