Exercise 4-6. Admission by purchase with the computation of capital balances of the old partners after admission. Suppose Beth is to be admitted in the BFF Partnership by purchasing one- half interest of Rey for P15,000 and one-fourth interest of Normita and Pening for P6,000 and P9,000, respectively. Prior to admission, the following is the statement of financial position of BFF Partnership: BFF Partnership Statement of Financial Position September 30, 2023 w galv Assets Cash Other Assets Total Assets Liabilities and Partners Equity Liabilities Rey, Capital (30%) Normita, Capital (20%) Pening, Capital (50%) Total Liabilities and Partners Equity P115,000 125,000 P240,000 P140,000 30,000 20,000 50,000 P240,000 Required: What are the capital balances of Rey, Normita and Pening after the admission of Beth?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Exercise 4-6. Admission by purchase with the computation of capital
balances of the old partners after admission.
Suppose Beth is to be admitted in the BFF Partnership by purchasing one-
half interest of Rey for P15,000 and one-fourth interest of Normita and
Pening for P6,000 and P9,000, respectively. Prior to admission, the
following is the statement of financial position of BFF Partnership:
2003
BFF Partnership
Statement of Financial Position
September 30, 2023
Assets
Cash
Other Assets
Total Assets
Liabilities and Partners Equity
Liabilities
Rey, Capital (30%)
Normita, Capital (20%)
Pening, Capital (50%)
Total Liabilities and Partners Equity
000.000
P115,000
125,000
P240,000
P140,000
30,000
20,000
50,000
P240,000
Required: What are the capital balances of Rey, Normita and Pening after
the admission of Beth?
Transcribed Image Text:Exercise 4-6. Admission by purchase with the computation of capital balances of the old partners after admission. Suppose Beth is to be admitted in the BFF Partnership by purchasing one- half interest of Rey for P15,000 and one-fourth interest of Normita and Pening for P6,000 and P9,000, respectively. Prior to admission, the following is the statement of financial position of BFF Partnership: 2003 BFF Partnership Statement of Financial Position September 30, 2023 Assets Cash Other Assets Total Assets Liabilities and Partners Equity Liabilities Rey, Capital (30%) Normita, Capital (20%) Pening, Capital (50%) Total Liabilities and Partners Equity 000.000 P115,000 125,000 P240,000 P140,000 30,000 20,000 50,000 P240,000 Required: What are the capital balances of Rey, Normita and Pening after the admission of Beth?
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