Vida, Vina, and Vita, sharing profits and losses 50%, 30% and 20%, have capital credit balances of P400,000, P300,000 and P200,000, respectively. They decided to admit a new partner, Vera to a 30% interest in the partnership upon Vera's investment of an amount equal to five-sixths of her capital credit with no asset adjustment recognized. Immediately after the admission of Vera, the capital credit balance of Vina will be: A. P300,000 B. P330,000 C. P318,000 D. P282,000
Vida, Vina, and Vita, sharing profits and losses 50%, 30% and 20%, have capital credit balances of P400,000, P300,000 and P200,000, respectively. They decided to admit a new partner, Vera to a 30% interest in the partnership upon Vera's investment of an amount equal to five-sixths of her capital credit with no asset adjustment recognized. Immediately after the admission of Vera, the capital credit balance of Vina will be: A. P300,000 B. P330,000 C. P318,000 D. P282,000
Chapter11: Partnerships: Distributions, Transfer Of Interests, And Terminations
Section: Chapter Questions
Problem 15CE
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Vida, Vina, and Vita, sharing profits and losses 50%, 30% and 20%, have capital credit balances of P400,000, P300,000 and P200,000, respectively. They decided to admit a new partner, Vera to a 30% interest in the partnership upon Vera's investment of an amount equal to five-sixths of her capital credit with no asset adjustment recognized. Immediately after the admission of Vera, the capital credit balance of Vina will be:
A. P300,000
B. P330,000
C. P318,000
D. P282,000
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ISBN:
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Author:
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Publisher:
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