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How much is beulah capital in the new partnership

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Question - The partnership of Magdalene and Beulah provides for 3:2 sharing in profits and losses. Prior to the admission of a third partner Salome, the capital accounts are Magdalene, P240,000 and Beulah, P160,000. Salome invests P100,000 or a 25% interest and partners agreed that the net assets of the new partnership would be P500,000. How much is Beulah's capital in the new partnership?

Reference no: EM133128483

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