Question 1. Vann and Jhane capital are P480000 and P520,000 respectively. Profit sharing ratio is 4:6. Tin invested P500,000 for a 30% interest in the partnership. What is the capital of Vann after admitting Tin?

Question 2. In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. David invests Php40,000 for a one-fifth interest in the total capital of Php220,000.The journal to record David's admission into the partnership will include:

Question 3: In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. David invests Php40,000 for a one-fifth interest in the total capital of Php220,000.What are the capital balances of David after being admitted into the partnership?

Question 4: In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. Assume that David invests Php50,000 for a one-fourth interest. Goodwill is to be recorded.The journal to record David's admission into the partnership will include:

Question 5: In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. David invests Php50,000 for a one-fifth interest.What amount of goodwill will be recorded?

Question 6: In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. Adam and David agree that some of the inventory is obsolete. The inventory account is decreased before David is admitted. David invests Php40,000 for a one-fifth interest.What is the amount of inventory written down?

Question 7. In the AD partnership, Adam's capital is Php140,000 and David's is Php40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. David invests Php40,000 for a one-fifth interest in the total capital of Php220,000.What are the capital balances of Adam after David is admitted into the partnership?

Question 8. If Rainier retired and received P41,000, byhow much will the adjusted capital of Roy be under specific revaluation of asset method (specific revaluation)?

Question 9: If Rainier retired and received P38,500 as a retirement price, how much will be the bonus to or (from) Raymond?