A P25,000 recovery of a previous write-down on the inventory A&B Partnership admits C as a new partner. The statement of financial position before the admission of C is shown below: Cash 26,000...

1. Under Millan book. This is not a part of our exam but is included in the reference book and I want to review its answer.

Extracted text: A P25,000 recovery of a previous write-down on the inventory A&B Partnership admits C as a new partner. The statement of financial position before the admission of C is shown below: Cash 26,000 Accounts payable 62,000 Accounts receivable 120,000 A, Capital ( interest in PA) 170,000 Inventory Total assets 180,000 B, Capital (40% interent in ) 94.000 326,000 Total liabilities and oquity 326,000 The following adjustments are determined: • The recoverable amount of the accounts receivable is P116,400 should be recognized. • Prepaid assets of P3,600 and accrued liabilities of P4,000 should be recognized. LAICPA - Adapted) 1. Cacquires half of B's interest in the partnership for P100,000, How much is the çapital balance of B after the admission of C a. 47,000 b. 21,500 c. 51,200 d. 182,600