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What are the capital balances of the remaining partners

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Problem 1: A, B, and C were partners with capital balances on January 2, 2020 of P 100,000, P 150,000, and P 200,000, respectively. Their profit and loss ratio is 5:3:2. On July 1, 2020, A retires from the partnership on the date of retirement the partnership net income is P 140,000 and the partners agreed that inventories are to be revalued at P 70,000 from its original cost of P 50,000. The partners agreed further to pay A P 195,000 in settlement of her interest. What are the capital balances of the remaining partners after the retirement of A?

Reference no: EM132620927

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