10Ana, Beth and Carla are partners in ABC Partnership. On August 1,2020, Darla and Ella wereadmitted to the partnership by contributing cash of 50,000 each so that each will have 15%interest in the partnership as well as in the share in the profits and losses. From January 1,2020 to August 1,2020 the partnership business incurred a net profit of P 25,000. This netprofit was not yet closed to the capital accounts as of August 1,2020. At the time of admissionof the new partners, all the assets of the partnership are fairly valued.The partper's capital balance as of August 1,2019 before admission with their profit or lossratio arelas follows:ACapital- 250,000 (20%)B. Capital - 300,000( 50%)C Capital -275, 000( 30%)The partner's will retain their profit and loss ratio even after admission of Darla and Ella.How much is the capital balance of Ana after the admission of Darla and Ella?250000225 000e37 500255 000

In this problem we have given partners capital balances before…

Answered: Roth and Carla aro partners in ABC…

Business

Accounting

Roth and Carla aro partners in ABC Partnershin On August 1. 2020. Darla and Ella were

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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