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What amount will be recorded in claudio-ty capital account

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Question - Sunglao and Gadia are partners who have agreed to admit Claudio-Ty, who will invest P150,000 for a 20% interest. The previous capital balances were P150,000 and P300,000 for Sunglao and Gadia, respectively. Sunglao and Gadia shared profits and losses equally.

What amount will be recorded in Claudio-Ty's Capital account?

a. P60,000 credit

b. P90,000 credit

c. P120,000 credit

d. P150,000 credit

What is Sunglao's Capital account balance after admitting Claudio-Ty?

a. P180,000 credit balance

b. P165,000 credit balance

c. P135,000 credit balance

d. P120,000 credit balance

Reference no: EM133169203

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