Homework Help:

Hello, need help answering the attached exercises related to partnership. Please provide solutions and detailed explanations.

exerciser 4-4.4. Mark and Isaiah have capital balances of p 560,000 and P 450,000 respectively. Both decided to admit Elijah into their partnership. He invested enough cash to have a interest in the partnership. The profit and loss ratio of the old partners is 3:2 respectively. After the admission of Elijah, the capital balaoce of Isaiah amounted to P 495,000. How much cash was invested by Elijah? Exercise 4-4.5. The capital accounts balances of partners in The Ministry partnership on Julyl, 2019 before any necessary adjustments are as follows: Mew, Capital (20%) Mow, Capital (30%) Miw, Capital (50%) Total 800,000 P4 OOO OOO On July 1, 2019,Miw withdrewfrom the partnership when Mew bought his capital interest for P850,000. What is the journal entry upon retirement of Miw?