Mary and Rose are partners in a retail business and divide profits at 60% and 40%, respectively. The capital balances at
Posted: Mon May 30, 2022 8:09 am
Mary and Rose are partners in a retail business and divide
profits at 60% and 40%, respectively. The capital balances at
December 31, 2020 are as follows: Mary, Capital-P180,000 and Rose,
Capital-P180,000. The partners agree to admit Dina into the
partnership. Dina purchases a one-third interest in the partnership
by paying May and Rose P150,000. The assets are to be revalued
prior to the admission of Dina. If assets are not to be revalued,
how much cash should be personally received by Mary (2 Points)
P72,000
P50,.000
P60,000
P78,000
profits at 60% and 40%, respectively. The capital balances at
December 31, 2020 are as follows: Mary, Capital-P180,000 and Rose,
Capital-P180,000. The partners agree to admit Dina into the
partnership. Dina purchases a one-third interest in the partnership
by paying May and Rose P150,000. The assets are to be revalued
prior to the admission of Dina. If assets are not to be revalued,
how much cash should be personally received by Mary (2 Points)
P72,000
P50,.000
P60,000
P78,000