How much is the new capital balance of calvin

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Question 1: Calvin and Klein are partners sharing profits 60% and 40%. On January 1, they decided to admit Versace as a new partner upon his investment of P 8,000. On this date, their interest in the partnership are as follows: Calvin-P 11,500; Klein-P 9,300. assuming that the new partner is given a one-third interest in the firm, with bonus allowed to the new partner, how much is the new capital balance of Calvin?

Question 2: How much is the new capital balance of Klein?

Question 3: How much is the new capital balance of Versace?

Reference no: EM132815118

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