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Find what charlie capital should be

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Problem 1: Partners Charlie and Delta share profits in the ratio of 6:4 respectively. On December 31, 2018 their respective capital balances were Charlie, P120,000 and Delta, P100,000. On that date Mae was admitted as partner with a one-third interest in capital and profits for an investment of P80,000. The new partnership began in 2019 with total capital of P300,000. Immediately after Mae's admission, Charlie's capital should be:

a. P120,000
b. P108,000
c. P100,000
d. P160,000

Reference no: EM132764396

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