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What are the capital balances of Fred, Raul and Lore

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Problem - Fred and Raul are partners who share profits and losses in the ratio of 7:3, respectively. Their respective capital accounts are as follows:

Fred P35,000

Raul 30,000

They agreed to admit Lory as a partner with a one-third interest in the capital and profit and losses, upon an investment of P25,000. The new partnership will begin with a total capital of P90,000. Immediately after Lory's admission, what are the capital balances of Fred, Raul and Lore, respectively?

Reference no: EM132887544

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