Jungkook and Jiminare doctors who agreed to share profits and losses in the ratio of 60% and 40%,respectively. On April 1, 2021, their capital accounts were as follows:Jungkook has P2,800,000 while...


89


Jungkook and Jiminare doctors who agreed to share profits and losses in the ratio of 60% and<br>40%,respectively. On April 1, 2021, their capital accounts were as follows:Jungkook has<br>P2,800,000 while Jimin has P2,400,000. The two doctors agreed alsoto admit Jin as a partner<br>with a 1/3 interest in the capital and profits uponhis investment of P2,000,000. All partners<br>assets and liabilities are fairlyvalued at the time of admission of Jin.<br>At amount is the capital balance of Jungkook after the admission of Jin? * G<br>O 2,400,000<br>O 2,520,000<br>O 2,800,000<br>O 2,560,000<br>

Extracted text: Jungkook and Jiminare doctors who agreed to share profits and losses in the ratio of 60% and 40%,respectively. On April 1, 2021, their capital accounts were as follows:Jungkook has P2,800,000 while Jimin has P2,400,000. The two doctors agreed alsoto admit Jin as a partner with a 1/3 interest in the capital and profits uponhis investment of P2,000,000. All partners assets and liabilities are fairlyvalued at the time of admission of Jin. At amount is the capital balance of Jungkook after the admission of Jin? * G O 2,400,000 O 2,520,000 O 2,800,000 O 2,560,000

Jun 08, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here