On December 31, 2019, the Statement of Financial Position of ABC Partnership provided the following data with profit or loss ratio of 5:1:4: Current Assets P1,500,000 Noncurrent Assets 2,000,000 Total...


On December 31, 2019, the Statement of Financial Position of ABC Partnership provided the following data with profit or loss ratio of 5:1:4:


Current Assets P1,500,000


Noncurrent Assets 2,000,000


Total Liabilities P500,000


A, Capital 1,100,000


B, Capital 1,200,000


C, Capital 700,000



On January 1, 2020, D is admitted to the partnership by investing P500,000 to the partnership for 10% capital interest. Asset revaluation is necessary based on the amount invested by D.



What is the capital balance of A after the admission of D to the partnership?



Jun 09, 2022
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