Alex invests P160,000 in a partnership for a 1/5 interest. Prior to Alex's admission, the partnership had
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Question:
Alex invests P160,000 in a partnership for a 1/5 interest. Prior to Alex's admission, the partnership had two partners with capital balances of P190,000 each. if no asset revaluation is recognized prior to Alex's admission, what amount is credited to his capital account?
P90,000
P108,000
P135,000
P160,000
Related Book For
Elementary Statistics
ISBN: 978-0538733502
11th edition
Authors: Robert R. Johnson, Patricia J. Kuby
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