After intangible assets have been adjusted to fair values, the capital accounts of Rey Refozar and...
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After intangible assets have been adjusted to fair values, the capital accounts of Rey Refozar and Rogelio Ceradoy have balances of P75,000 and P125,000, respectively. Elmer Dimayuga is to be admitted to the partnership, contributing P50,000 cash to the partnership, for which he is to receive an equity of P65,000. All partners share equally in profit. Required: Calculate the capital balances of each of the partner after admission of the new partner. After intangible assets have been adjusted to fair values, the capital accounts of Rey Refozar and Rogelio Ceradoy have balances of P75,000 and P125,000, respectively. Elmer Dimayuga is to be admitted to the partnership, contributing P50,000 cash to the partnership, for which he is to receive an equity of P65,000. All partners share equally in profit. Required: Calculate the capital balances of each of the partner after admission of the new partner.
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