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How much is the total partnership capital

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Reference no: EM133141687

Question - AB Partnership had a net income of P 8,000 for the month ended September 30,2019. C purchased an interest in the AB Partnership of A and B by paying A P 32,000 for half of her capital and half of 50% percent profit sharing interest on October 1,2019. At this time A's capital balance was P 24,000 and B's capital balance was P 56,000.

Required -

1. After the time of admission of C, how much is the total partnership capital?

2. A should receive a debit to her capital account of?

Reference no: EM133141687

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