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.

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 paetner Bruce's capital accounts?

On December 31, 2015, partners Barry, Manny and Lou shares profits and losses by 30:50:20.Before the retirement of partner Barry, the partners have interest amounting to: Barry- 35,100,Manny- 56,500 and Lou- 21,400.Final settlement to Barry is amounted to 30,900. How much is the capital balance of Lou afterretirement?

Almutaz Ahmed and Amir are partners sharing profits in the ratio of 9: 6: 3. Ahmed retires and Goodwill of the firm is valued on that date OMR 30,000. Calculate the Goodwill share of Almutaz? a. None of the options b. OMR 7.500 c. OMR 10,000 d. OMR 2,500

The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda $ 270,000 Adams 240,000 Fergie 230,000 Gomez 220,000 Total capital $ 960,000 Answer each of the following independent questions: Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $269,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners? Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $355,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.)

A, B and C are partners sharing profits in the ratio of 3:3:2. On June 30, their capital balances are as follows: A, 720, 000; B, 480, 000 and C, 360, 000. Dong will directly purchase 1/3 of A’s interest for 250, 000 and no bonus or goodwill is to be recognize before the direct purchase of A’s interest. In addition, Dong is also to invest 380, 000 cash in the partnership. The total capital of the partnership after the admission is to be 2, 000, 000. Dong’s interest after his admission by direct purchase and investment is to be 30%.   c.   What is the capital balance of A after the admission by direct purchase and admission by investment of Dong? d.What is the capital balance of B after the admission by direct purchase and admission by investment of Dong?

The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda 160,000 Adams 140,000 Fergie 130,000 Gomez 120,000 Answer each   A. Assume that the partners and losses 3:3:2:2,respectively. Fergie retires and is paid 151,000 based on the terms of the orginal partnership agreement. If the Goodwill method is used;what is the capital of the remaining three partners? B. Assume that the partners share profit and losses 4:3:2:1, respectively. Peneda retires and is paid 305,000 based on the terms of the orginal partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round intermediate calculations. Round to the nearest amounts.   A. Pineda   capital Balance__________ Adams       capital Balance__________ Gomez      capital Balance__________     B. Pineda        capital Balance__________ Adams       capital Balance__________ Gomez      capital Balance__________

Myles Etter and Crystal Santori are partners who share in the income equally and have capital balances of $199,800 and $62,680, respectively. Etter, with the consent of Santori, sells one-third of his interest to Lonnie Davis.   Assume the sale occurs on December 31. What entry is required by the partnership if the sales price is (a) $66,600? (b) $87,700?

How much is the share of Lorna share in the net income? *       P89,235.00       P90,382.50       P90,735.00       P91,350.00       answer not given

Andrew, Bobby and Calyx are partners whose contributions are as follows: Andrew -- P 600,000; Bobby -- P 400,000 and Calyx -- P 200,000. They agreed to divide profits or losses in the ratio of 35:25:40, respectively. How much is the ending capital of Calyx if the partnership incurred a loss of P 80,000?