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How much is the capital credit of Z upon his admission

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Problem - X and Y have capital balances of P150,000 and P180,000, respectively. Z is to invest P60,000 for 15% in the partnership interest and also in the profit and loss. There is an undistributed net income in the amount of P80,000. Partners X and Y share profit and loss 65:35.

Required -

1. How much is the capital credit of Z upon his admission?

2. How much is the bonus to partner X from partner Z?

Reference no: EM133027336

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