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Rivera and Molina are partners with profit and loss ratio of 75:25 and capital balances of P175,000 and P87,500 respectively. Gutierrez is to be admitted into the partnership by purchasing a 20% interest in the capital, profits and losses for P105,000.
Question 1: Assuming that no asset revaluation is to be made, the capital balances of Rivera and Molina, respectively, after admission of Gutierrez are:
a. P140,000 and P70,000 c. P196,000 and P66,500
b. P210,000 and P105,000 d. P175,000 and P87,500
1. financial statement analysis a. is application of analytical tools to general-purpose financial statements and
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