Solution-Prepare journal entries to record the admission of

Prepare journal entries to record the admission of green

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Reference no: EM133179294

Question - Red, White, and Blue are partners with a profit and loss ratio of 2:4:4 and credit capital balances of P60,000, P80,000, and P60,000, respectively. Green is to be admitted into the partnership with an investment of P75,000 for 25% interest in the capital, profit, and losses of the firm.

Required - Prepare journal entries to record the admission of Green, using 1. Revaluation of assets 2. Bonus approach.

Reference no: EM133179294

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Prepare journal entries to record the admission of green : Green is to be admitted into the partnership with an investment of P75,000 for 25% interest in the capital, Prepare journal entries to record the admission

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Prepare journal entries to record the admission of green

Reference no: EM133179294

Reference no: EM133179294

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