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How much is the capital balance of Arden

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Question - Elizabeth, Arden and Hugo are partners sharing profits in the ratio 3:2:1, respectively. Capital accounts are P 500,000, P 300,000 and P 200,000 for Elizabeth, Arden and Hugo, respectively on December 31, 2019, when Hugo decided to withdraw. It is agreed to pay P 300,000 for Hugo's interest. Profits after the retirement of Hugo are to shared equally. Assuming the use of bonus method, how much is the capital balance of Elizabeth after the retirement of Hugo?

How much is the capital balance of Arden after the retirement of Hugo?

Same data, but assuming the use of asset revaluation method, how much is the total asset revaluation? Use parenthesis ( ) if your answer is a negative asset revaluation?

Using data in I1 and I3, how much is the capital balance of Elizabeth after the retirement of Hugo?

Reference no: EM132861027

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