Exercise 4 - 9. Admission by Investment: Computing Partners' Agreed Capital Jude and Isidore are partners with capital balances of P600,000 and P200,0 Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to adi their partnership business. Anthony invested a computer valued at P100,000 f interest in the new partnership. The computer costs P120,000 when he purchas Required: Compute for the agreed capital balances of all the partners after t Anthony.
Exercise 4 - 9. Admission by Investment: Computing Partners' Agreed Capital Jude and Isidore are partners with capital balances of P600,000 and P200,0 Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to adi their partnership business. Anthony invested a computer valued at P100,000 f interest in the new partnership. The computer costs P120,000 when he purchas Required: Compute for the agreed capital balances of all the partners after t Anthony.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Exercise 4 – 9. Admission by Investment: Computing Partners' Agreed Capital Balances
Jude and Isidore are partners with capital balances of P600,000 and P200,000, respectively.
Profits and losses are divided in the ratio of 3:2. Jude and Isidore decided to admit Anthony into
their partnership business. Anthony invested a computer valued at P100,000 for a 20% capital
interest in the new partnership. The computer costs P120,000 when he purchased it a year ago.
Required: Compute for the agreed capital balances of all the partners after the admission of
Anthony.
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