At year end, the Cisco partnership has the following capital balances: Montana, Capital P 130, 000 Rice, Capital 110, 000 Craig, Capital 80.000 Taylor, Capital 70, 000 Profits and losses are split on...


At year end, the Cisco partnership has the following capital balances:<br>Montana, Capital<br>P 130, 000<br>Rice, Capital<br>110, 000<br>Craig, Capital<br>80.000<br>Taylor, Capital<br>70, 000<br>Profits and losses are split on a 3:3:2:2 basis, respectively. Craig decides lo leave the partnership and is paid P90. 000 Irom the business<br>based on the original contractual agreement. If the revaluation method is to be applied, what is the balance of Montana's capital account after<br>Craig withdraws?<br>

Extracted text: At year end, the Cisco partnership has the following capital balances: Montana, Capital P 130, 000 Rice, Capital 110, 000 Craig, Capital 80.000 Taylor, Capital 70, 000 Profits and losses are split on a 3:3:2:2 basis, respectively. Craig decides lo leave the partnership and is paid P90. 000 Irom the business based on the original contractual agreement. If the revaluation method is to be applied, what is the balance of Montana's capital account after Craig withdraws?

Jun 11, 2022
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