Hansel and Gretel are partners. Hansel's capital balance is P130,000 and Gretel's is P150,000. They agreed to share equally in profits and losses. Bot partners agree to accept a third investor, Mocha, as a new partner with a 25% interest in the partnership. Mocha intends to invest P115,000 in cash. The bonus that is granted to Hansel and Gretel is closest to
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- Finch and Gerhardt are partners. Finch's capital balance is P100,000 and Gerhardt's is P140,000 They agreed to share equally in profits and losses. Both partners agree to accept a third investor, Harrison as a new partner with a 25% interest in the partnership. Harrison intends to invest P90,000 in cash. The bonus that is granted to Finch and Gerhardt equals Select the correct response: P15,500 each. P3,750 each. P10,000 each. P5,000 each.Batman and Robin agree to form a partnership. Batman is to contribute 135,600 cash and equipment that has a carrying value of 135,000 and a fair value of 115,000. The equipment however, has a mortgage attached to it and it is agreed by the partners that they will assume it. Robin, on the other hand contributed 240,000 cash. They share profits and losses in the ratio of 4:5. Furthermore, part of their agreement is to bring their initial capital in conformity with their profit and loss ratio.How much is the mortgage of the equipment? Pls provide solutionA. 58,600 B. 10,600 C. 78,600 D. 34,600Bruce, Parker and May formed a partnership. Their capital balances showed the following: Bruce, Capital P252,000; Parker, Capital- P126,000; May, Capital- P42,000. Their profit and loss ratio are 6:3:1. The partners decide to sell 20 percent of their interest to Violet for a total payment of P120,000. Violet will pay the money directly to the other partners. How much was the bonus debited or credited in paetner Bruce's capital accounts?
- Bruce, Parker, and May formed a partnership. Their capital balances showed the following: Bruce, Capital – P252,000; Parker, Capital – P126,000; May, Capital – P42,000. Their profit and loss ratio are 6:3:1. The partners decide to sell 20 percent of their interest to Violet for a total payment of P120,000. Violet will pay the money directly to the other partners. How much was the bonus debited or credited in partner Bruce’s capital account? Please provide a good accounting form in the solutionJerry and Chan have formed a partnership. Jerry contributed cash of 630,000 and computer equipment that cost 225,000. The fair value of the computer is 180,000. Jerry has notes payable on the computer worth 60,000 to be assumed by the partnership. Jerry is to have 60% capital interest in the partnership. Gray contributed only 450,000. The partners agreed to share profits and losses equally. Jerry should make an additional investment or withdrawal at what amount?Bruce, Parker and May formed a partnership. Their capital balances showed the following. Bruce Capital P252,000; Parker, Capital-P126,000; May, Capital-P42,000. Their profit and loss ratio are 6:3:1. The partners decide to sell 20 percent of their interest to Violet for a total payment of P120,000 Violet will pay the money directly to the other partners. How much was the bonus debited or credited in partner Bruce’s capital account?
- Jim and Joe are partners agreeing to share profits and losses in a 2:6 ratio, respectively. Business has been profitable and they have decided to admit Jewel to the partnership for a cash investment. The balances in Jim and Joe's capital accounts are presently P240,000 and P260,000, respectively. If Jewel is given a 15% interest in the partnership in exchange for P100,000, the entry to record her investment includes a: a. credit to Jewel, capital for P100,000 b. debit to Jim, capital for P6,250 c.credit to Jim, capital for P6,250 d. credit to Joe, capital for P7,500Jim and Joe are partners agreeing to share profits and losses in a 2:6 ratio, respectively. Business has been profitable and they have decided to admit Jewel to the partnership for a cash investment. The balances in Jim and Joe's capital accounts are presently P240,000 and P260,000, respectively. If Jewel is given a 25% interest in the partnership in exchange for P200,000, the entry to record her investment includes a: a. credit to Jim, capital for P6,250 b. debit to Joe, capital for P18,750 c. credit to Jewel, capital for P200,000 d. debit to Jewel, capital for P175,000Jim and Joe are partners agreeing to share profits and losses in a 2:6 ratio, respectively. Business has been profitable and they have decided to admit Jewel to the partnership for a cash investment. The balances in Jim and Joe's capital accounts are presently P240,000 and P260,000, respectively. If Jewel is given a 20% interest in the partnership in exchange for P90,000 cash, the entry to record her investment includes a: a. credit to Jim, capital for P7,000 b. credit to cash for P90,000 c. credit to Jewel, capital for P90,000 d. credit to Jewel, capital for P118,000
- Marga, David and Anna are partners with capital balances of P784,000, P2,730,000 and P1,190,000 respectively, sharing profits and losses in the ratio of 3:2:1. Cassandra is admitted as a new partner bringing with him expertise and is to invest cash for a 25% interest in the partnership which includes a credit of P735,000 for bonus upon her admission. How much cash should Cassandra contribute?Ciar and Jaybon are partners. Their capital contribution are as follows:Ciar 400,000 and Jaybon will provide his services. The partners agreed to divide the profits or lossess in the ratio of 70% and 30% for Ciar and Jaybon, respectively. If the profit is 100,000, how should the profit be distributed among the partners?Ciar?Jaybon?Hansen and Fleming are partners and share equally in income or loss. Hansen’s current capital balance in the partnership is $125,000 and Fleming’s is $124,000. Hansen and Fleming agree to accept Black with a 20% interest. Black invests $75,000 in the partnership. The bonus granted to Hansen and Fleming equals