Reference no: EM132969439
Question - Mar, Dom, and San are partners with the following capital balances: Mar, 240,000; Dom, 200,000; and San 160,000. They shared profits and losses in the ratio of 3:2:5, respectively. Dom decided to withdraw from the partnership by selling his interest to the business for cash.
Required -
What the capital balance of the partnership before the withdrawal of Dom?
What the capital balance of the partnership after the withdrawal of Dom?
What the book value of Dom's interest acquired by the partnership?
Assuming the partnership pays Dom P120,000, how much is the capital balance of San after the withdrawal of Dom?
Assuming the firm pays Dom P240,000, how much is the capital balance of Mar after the withdrawal of Dom?
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