H. Marc, Jacobs and Benetton share profits in the ratio 2:3:5. OnSeptember 30O, Partner Benetton opted to retire from the partnership.The capital balances on this date are the following: Marc-P50,000;Jacobs-P 80,000; Benetton-P 70,000. How muchMarc assuming Benetton is paid P 78,000 in full settlement of hisinterest? Use Bonus method.to be debited from

Benetton has decided to retire on September 30. On the date of his retirement, his capital balance…

H. Marc, Jacobs and Benetton share profits in the ratio 2:3:5. On September 30, Partner Benetton opted to retire from the partnership. The capital balances on this date are the following: Marc-P50,0003; Jacobs-P 80,000; Benetton-P 70,000. How much is to be debited from Marc assuming Benetton is paid P 78,000 in full settlement of his interest? Use Bonus method.

H. Marc, Jacobs and Benetton share profits in the ratio 2:3:5. On September 30, Partner Benetton opted to retire from the partnership. The capital balances on this date are the following: Marc-P50,0003; Jacobs-P 80,000; Benetton-P 70,000. How much is to be debited from Marc assuming Benetton is paid P 78,000 in full settlement of his interest? Use Bonus method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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