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?

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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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