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How much cash should janice contribute

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Question - Rachel, Monica and Phoebe are partners with capital balances of P896,000, P3, 120,000 and P3,160,000 respectively, sharing profits and losses in the ration 3:2:1. Janice is admitted as a new partner bringing with her expertise and is to invest cash for a 25% interest in the partnership, which includes a credit of P840,000 bonus upon his admission. How much cash should Janice contribute?

Reference no: EM133185532

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