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How much will Jun receive

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Q1. Mary Rose decides to buy 25% interest in the Theresa and Yvette partnership by investing P75,000 in the partnership. Theresa and Yvette's capital balances amount to P75,000 and P 100,000 respectively. After Mary Rose is accepted into the partnership how much is the capital balance of Yvette?

Q2. Pie, Jocelyn and Jun are partners in the PJJ Partnership. Pie's capital balance is P900,000, Jocelyn's balance is P150,000 and Jun's balance is P750,000. The partners share profits equally. The partnership decides to liquidate. Noncash assets valued at P2,000,000 were sold for P1,325,000. Liabilities of P200,000 were paid. How much will Jun receive if all partners have no other asset except their investment in the partnership?

Reference no: EM132937696

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