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What chito capital should be

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Problem 1: Partners Chito and Ditas share profits in the ratio of 6:4, respectively. On December 31, 2012, their capital balances were: Chito, P120,000 and Ditas, P100,000. On that date, Meng was admitted as partner with one-third interest in capital and profits for an investment of P80,000. The new partnership began in 2012 with total capital of P300,000. Immediately after Meng's admission, Chito's capital should be?

Reference no: EM132769701

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