The capital accounts of A&B Co. before admission of C are as follows: Capital accounts P/L ratios
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Question:
Capital accounts P/L ratios
A, Capital P150,000 40%
B, Capital P250,000 60%
Total Capital = 400,000
1. C purchases 10% interest out of the 30% interest of A for P100,000. Calculate the net assets of A,B, and C.
Related Book For
Advanced Accounting
ISBN: 9780132568968
11th Edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
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