Joshua Jacob and Paul are partners with capital balances of P32,000, 80,000, and P16,000 respectively. The partners share profits and losses in the ratio of 4:3:2. Jeremiah is admitted in the partnership. It was agreed that he invests cash for a 20% interest considering the transfer of capital from him of P30,000 upon admission.

 How much is the capital of Joshua after Jeremiah's admission?

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Before Jeremiahs admission the total capital of the partnership is the sum of the individual partner... View the full answer