Homework Help:

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

Exercise 4-4.6. Ily and SB are partners who share profits and losses in the ratio of 8:2, respectively. Their respective capital accounts are as follows: Ily (8/10) P105,OOO SB (2/10) P90,OOO They agreed to admit Lany as a partner with a one-third interest in the capital and profits and losses, upon an investment of P75,000. The new partnership will begin with a total capital of P300,000. Immediately after Jane's admission, what are the capital balances of Ily, SB and Lany, respectively? Exercise 4-4.6, Presented , below is the condensed balance sheet of the partnership of Ri, Ro and Ru who share in the profits and losses in the ratio of 6:3:1, respectively: Cash Other assets Total P185,OOO Liabilities 415,000 Ri, capital Ro, capital Ru, capital P500,OOO Total P180,OOO 252,000 126,000 42,000 P500,ooo The partners agreed to sell 20% of their capital and profit and loss interest to Re for P90,OOO. The said payment is to be made directly to the partners. Immediately after Re's admission, what are the capital balances of Ri, Ro and Ru, respectively?