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How much is the he capital balance of patrice

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Question - Patrice, Bella and Timmy were partners with capital balances on January 2, 2019 of P175,000; P262,500 and P350,000, respectively. Their profit ratio is 5:3:2 while their capital interest ratio is 4:4:2. On July 1, 2019, Jade was admitted by the partnership for 20% interest in capital and 25% in profits by contributing P43,750 cash, and the old partners agree to bring their interest to their old capital and profit interest sharing ratio. The partnership had net income of P105,000 before admission of Jade and the partners agree to revalue its overvalued equipment by P17,500. How much is the he capital balance of Patrice after admission of Jade?

Reference no: EM132652195

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