On December 31, 2022, the trial balance of Apostles Partnership included the following information: Cash P1,000,000...

 

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On December 31, 2022, the trial balance of Apostles Partnership included the following information: Cash P1,000,000 Non-current Assets 2,000,000 Total Liabilities Peter, Capital James, Capital John, Capital Total P3,000,000 Total The profit and loss ratio of the partners are 1:6:3. On January 1, 2023, Andrew is admitted to the partnership by purchasing 38% of the capital interest of James at a price of P831,000. What is the capital balance of James after the admission of Andrew on January 1, 2023? P 600,000 900,000 800,000 700,000 P3,000,000 On December 31, 2022, the trial balance of Apostles Partnership included the following information: Cash P1,000,000 Non-current Assets 2,000,000 Total Liabilities Peter, Capital James, Capital John, Capital Total P3,000,000 Total The profit and loss ratio of the partners are 1:6:3. On January 1, 2023, Andrew is admitted to the partnership by purchasing 38% of the capital interest of James at a price of P831,000. What is the capital balance of James after the admission of Andrew on January 1, 2023? P 600,000 900,000 800,000 700,000 P3,000,000

Answer rating: 100% (QA)

Calculate the total capital of the partnership before the admission of Andrew Total capital Peters c... View the full answer