TM and SJ, having capital balances of Php980,000 and Php525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1 respectively, and SJ’s capital balance after GD’s investment is Php589,750. How much was invested by GD?
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TM and SJ, having capital balances of Php980,000 and Php525,000 respectively, decided to admit GD into their
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- TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1 respectively, and SJ’s capital balance after GD’s investment is P589,750. How much was invested by GD?Question 1. Vann and Jhane capital are P480000 and P520,000 respectively. Profit sharing ratio is 4:6. Tin invested P500,000 for a 30% interest in the partnership. What is the capital of Vann after admitting Tin? Question 2. In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David2 to the partnership. David2 invests Php40,000 for a one-fifth interest in the total capital of Php220,000. What is the journal to record David's2 admission into the partnership? Question 3: In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David2 to the partnership. David2 invests Php40,000 for a one-fifth interest in the total capital of Php220,000. What are the capital balances of David2 after being admitted into the partnership? Question 4: In the AD partnership, Adam's capital is Php140,000 and David's is…Use the data below for the following questions. Partners A and B had the following profit-sharing percentages and capital balances: A (40%) ₱300,000 and B (60%) ₱500,000. C was admitted to the partnership when he purchased half of A’s capital interest for ₱200,000. How much is A’s capital balance after the admission of C? A. 125,000 B. 150,000 C. 200,000 D. 100,000 C was admitted to the partnership when he purchased 20% of A’s and B’s capital interests for ₱200,000. If the book value method was used to record C’s admission, how much would be the capital balance of A after C’s admission? A. 180,000 B. 280,000 C, 240,000 D. 220,000 C was admitted to the partnership when he invested ₱150,000 cash for a 20% interest in the partnership. The partnership’s net assets are fairly valued on C’s admission date. The partners used the bonus method to record C’s admission. How much is the capital balance of A…
- Ritz , Von, and Lara are partners with capital balances of P20,000, P30,000, and P50,000 respectively. They share income in the ratio of 1:2:3. Income Summary with a debit balance of P30,000 is to be closed to the capital accounts. A gain is recognized for Ritz in the amount of P3,000. The amount of cash she would be getting from the partnership upon withdrawal would be?North invested RM40,000 in the partnership of West and East. The capital balance of West and East were RM40,000 and RM60,000, respectively. Income and loss is shared according to the ratio of equity balances. North was to receive 25% interest in the new partnership. The journal entry to record this transaction would NOT include: A. a debit to cash for RM40,000 B. a credit to West's capital account for RM2,000 C. a credit to East's capital account for RM3,000 D. a credit to North's capital account for RM30,000The partnership of Dina and Zia has assets of P 2,000,000 and liabilities of P 600,000. The capital balances of the partners are P 800,000 and P 600,000 respectively. Their old profit and loss sharing ratio is 60:40. They are inviting Heeka to join the partnership. If Heeka invests P 500,000 and will be give a 20% interest in the new partnership, how much will the adjusted capital of Dina after admission of Heeka? P 800,000 P 1,140,000 P 872,000 P860,000 Using the same information in no.6, how much is the capital credit given to Heeka in the new partnership? P 380,000 P 500,000 P 350,000 Answer not given
- 2. Hammer and Nail formed a partnership. Hammer contributed equipment with original cost of P370,000 and fair value of P300,000 while Nail contributed cash of P180,000. Hammer and Nail agreed to have a 60:40 interest in the partnership and that their initial capital credits should reflect this fact. A partner's capital account should be increased accordingly by way of additional cash investment. Which of the partners should make an additional investment and by how much? a. Hammer, P20,000 b. Nail, P20,000 c. Hammer, P70,000 d. Nail, P70,000A and B start a partnership by investing P24,000 and P36,000 respectively. Their agreement is to share half of the total profit equally and then share the remaining half in the ratio of their capital. If they share the entire profit in the ratio of their capitals, B would have got P2500 more than what she would have got otherwise. What is the total profit ?Aris, Blair, and Cassie are partners who split profits in a 3:3:4 ratio. They have recently been overwhelmed by the volume of work and have agreed to admit Shane to the partnership in exchange for a monetary investment. Their capital accounts have current balances of USD60,000, USD80,000, and USD120,000, respectively. Assuming Shane is given a 20% interest in the partnership in exchange for a Php60,000 monetary investment, what are Cassie and Shane's capital balances after Shane's admission?
- Estephanie, Flordeliza, and Geralyn formed a partnership. Geralyn made a cash investment amounting to P 80,000. Given this information, how much is the expected total capital of the partnership if they desire equal capital balances?A and B have capital balances of P150,000 and P180,000, respectively. C is to invest P60,000 for 15% in the partnership interest and also in the profit and loss. There is an undistributed net income in the amount of P80,000. Partners A and B share profit and loss 65.35. 1. How much is the capital credit of C upon his admission? 2.How much is the bonus to partner A from partner C? 3.If equipment is overvalued, how much is the share of partner B in the overvaluation of the equipment?Smith, Wong, and Krishnan form a partnership. Smith contributes RM180,000, Wong contributes RM150,000, and Krishnan contributes RM270,000. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of RM175,000 for its first year, what amount of income is credited to Smith's capital account? A. RM78,750 B. RM58,333 C. RM 52,500 D. RM 43,750