Attitude Realty Partnership Angas, Sunget, and Pabebe are partners in Attitude Realty company. Their capital balances as at July 31, 2020, are as follows: Angas, Capital: 450,000; Sunget, Capital:...

answer letter d, e, and f. provide as well the solution/explanation. thank you!Attitude Realty Partnership<br>Angas, Sunget, and Pabebe are partners in Attitude Realty company. Their capital balances as at July 31, 2020, are as follows:<br>Angas, Capital: 450,000; Sunget, Capital: 150,000 ; Pabebe, Capital: 300,000<br>Each partner has agreed to admit Pabida to the partnership.<br>Required: Prepare the entries to record the dissolution event of the partnership under each of the following conditions:<br>a) Pabida paid Angas P125,000 for 20% of Angas interest in the partnership.<br>b) Pabida invested P200,000 cash in the partnership and received an interest equal to his investment.<br>c) Pabida invested P300,000 cash in the partnership for a 20% interest in the business. A bonus is to be recorded for<br>the original partners on the basis of their capital balances.<br>d) Pabida invested P300,000 cash in the partnership for a 40% interest in the business. The original partners gave<br>Pabida a bonus according to the ratio of their capital balances on July 31, 2020.<br>e) Angas withdrew from the partnership, taking P525,000. The excess of withdrawn assets over Angas' partnership<br>interest is distributed according to<br>f) Angas withdrew by selling her interest directly to Pabida for P600,000.<br>balances of<br>Capital accounts.<br>

Extracted text: Attitude Realty Partnership Angas, Sunget, and Pabebe are partners in Attitude Realty company. Their capital balances as at July 31, 2020, are as follows: Angas, Capital: 450,000; Sunget, Capital: 150,000 ; Pabebe, Capital: 300,000 Each partner has agreed to admit Pabida to the partnership. Required: Prepare the entries to record the dissolution event of the partnership under each of the following conditions: a) Pabida paid Angas P125,000 for 20% of Angas interest in the partnership. b) Pabida invested P200,000 cash in the partnership and received an interest equal to his investment. c) Pabida invested P300,000 cash in the partnership for a 20% interest in the business. A bonus is to be recorded for the original partners on the basis of their capital balances. d) Pabida invested P300,000 cash in the partnership for a 40% interest in the business. The original partners gave Pabida a bonus according to the ratio of their capital balances on July 31, 2020. e) Angas withdrew from the partnership, taking P525,000. The excess of withdrawn assets over Angas' partnership interest is distributed according to f) Angas withdrew by selling her interest directly to Pabida for P600,000. balances of Capital accounts.

Jun 10, 2022
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