If Arwind invested P 130,000 for a 25% interest in the firm and that the assets of the partnership are fairly valued, what would be the capital of Romeo after the admission of Arwind? If Arwind purchased 25% of the respective capital and profits and losses of Terence and Romeo for P 150,000, how much is the share of Terence in the asset adjustment?

The following are the capital balances and share in each profit of Ring Partnership:Aragorn                           150    40%Legolas                            250    40%Gimli                                300    20% 9. If Gandalf was admitted by investing sufficient cash for 20% interest, how much must be his investment?10. If Gandalf was admitted by paying the partners P100 for 10% interest in the firm, how much will be the capital of Aragorn after the admission if implied goodwill was recorded?11. How much did Gandalf have invested for 25% interest if after his admission in the firm the capital balance of Legolas increased by P20?12. If Gimli withdrew from the firm and received P360, how much is the capital of Legolas if prior to withdrawal, the firm recorded a goodwill of P200.13. If the partnership was liquidated and P250 is ready for distribution, how much will Gimli received?14. If the partnership was liquidated and Gimli received P210, how much did Legolas received?…

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For Industry H, determine each partner's share of income assuming the partners agree to share income by giving a $67,700 per year salary allowance to Price, a $126,100 per year salary allowance to Waterhouse, a $113,700 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Important! Be sure to click the correct Industry at the top of the dashboard. Net income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of each partner Initial partnership investments Net income Allocation of Partnership Income Price Total net income Total 0 Waterhouse $ $ PRICE, WATERHOUSE, AND COOPERS Statement of Partners' Equity For Year Ended December 31 Price Coopers 0 0 Waterhouse 0 0 0 $ For Industry H, prepare a statement of partners' equity for the…