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Question - Hera and Joy are partners sharing profits and losses in the ratio of 3:2, respectively. Their capital investments are: Hermie - Php100,000; Imee - Php50,000. They agree to admit Jaymee into the partnership.
Required - Record the admission of Jaymee under each of the following independent cases:
a. Jaymee purchases ¼ of Hermie's interest for Php24,000.
b. Imee sells ½ of her interest to Jaymee for Php24,000.
c. Jaymee purchases ½ interest of both partners for Php75,000.
d. Jaymee purchases ½ interest of both partners for Php80,000.
e. Jaymee purchases ½ interest of both partners for Php70,000.
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