The Samuel Partnership shows the following profit and loss ratios and capital balances: Andrew (60%), P252,000; Mila (30%), P126,000 and Philip (10%), P42,000. The partners decide to sell to Violet 20 percent of their respective capital and profit and loss interests for a total payment of P90,000. Violet will pay the money directly to the other partners. 

What are the capital balances of the partners after Violet's admission to the partnership?

Answer rating: 100% (QA)

Before Violets admission to the partnership the total capital of the partnership is Andrews capital ... View the full answer