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How much is the capital credited to the partners

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Question - Helen and Cathy are partners with a profit and loss ratio of 70:30. Their credit balance capital accounts on January 2016 are P70,000 for Helen and P50,000 for Cathy. They have agreed to admit Cherry as a new partner in their firm.

1. Cherry invests an amount of cash for 25% interest in profits, losses, and capital to each partner?

2. Cherry invests P50,000 for a 25% interest in the capital of the firm.

3. Cherry invests P25,000 for a 25% interest in the capital of the firm.

Required -

How much is the capital credited to Cherry?

How much is the capital credited to the partners?

How much is the capital credited to each partner?

Reference no: EM133014978

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