Jungkook and Jimin are partners in YG Entertainment with capital balances of P300,000 and P250,000 sharing profits and losses 6:4 respectively. They have a friend named Jin and they agreed to admit him as partner since Jin had also been in entertainment industry for years. Jin invests P150,000 for a 40%interest in the firm. Jungkook and Jimin transfer part of their capital to Jin as a bonus. What would be the capital balance of Jungkook after the admission of Jin? * O 222,000 O 210,000 O 240,000

Jungkook and Jimin are partners in YG Entertainment with capital balances of P300,000 and P250,000 sharing profits and losses 6:4 respectively. They have a friend named Jin and they agreed to admit him as partner since Jin had also been in entertainment industry for years. Jin invests P150,000 for a 40%interest in the firm. Jungkook and Jimin transfer part of their capital to Jin as a bonus. What would be the capital balance of Jungkook after the admission of Jin? * O 222,000 O 210,000 O 240,000

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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