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How should the cash be divided between Banzon and Cortez

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Problem - Banzon and Cortez are partners who share profit and losses in the ratio of 6:4. On January 1, 2021 their capital balances are:

Banzon P80,000

Cortez 20,000

Total P100,000

Dizon is to be admitted for a 20 percent interest in the partnership by direct purchase from the partnership for P30,000. How should the P30,000, cash be divided between Banzon and Cortez?

Reference no: EM132889180

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