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Find the capital balance of lenovo after admission of oppo

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Apple, samsung, lenovo, and huawei are partners with interests of P60,000 (30%); P65,000 (20%); P26,000 (10%) and P90,000 (40%) to apple, samsung, lenovo, and huawei each, respectively. Assume that the partners admit oppo into the partnership. Oppo is to invest P50,000 and to purchase 1/4 of the capital balances of samsung and lenovo for P25,000 with the assets being adjusted. Oppo is to have 20% share in the new partnership and a 15% share in the profits and losses. The agreed capital of the partnership after the admission of Oppo is P310,000.

Question 1: Determine the capital balance of lenovo after the admission of oppo.

Reference no: EM132584426

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