Nilupak, Biko andMaja Blancaare partners with capital balances of P324,300, P207.000 and P158,700. After being a partner for 30 years, Biko decided to withdraw from the partnership. Upon his...


Nilupak, Biko andMaja Blancaare partners with capital balances of P324,300, P207.000<br>and P158,700. After being a partner for 30 years, Biko decided to withdraw from the<br>partnership. Upon his withdrawal, assets were revaluated, and Biko's share was debited<br>for P27,000.<br>Instruction:<br>1. Give the entry to record the revaluation of the other assets<br>Give the entry to record the withdrawal of Biko from the partnership.<br>

Extracted text: Nilupak, Biko andMaja Blancaare partners with capital balances of P324,300, P207.000 and P158,700. After being a partner for 30 years, Biko decided to withdraw from the partnership. Upon his withdrawal, assets were revaluated, and Biko's share was debited for P27,000. Instruction: 1. Give the entry to record the revaluation of the other assets Give the entry to record the withdrawal of Biko from the partnership.

Jun 10, 2022
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