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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?
Which of the following is part of the journal entry that Tarheel Industries will make to record the acquisition of the printing press?
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Pangilinan is to receive a salary allowance of 100,000 for managing the business. Prepare the statement of changes in partner equity
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