Reference no: EM133032214
Question - On May 1, 2021, AAA and BBB formed a joint operation to acquire and sell a special type of merchandise. The contractual arrangements provide that AAA is to manage the joint operation for a fee and that gain and losses are to be divided equally. On May 1, 2021, BBB invests cash of P52,000, which P50,000 was used to purchase merchandise. AAA incurs expenses amounting to P2,500. On May 20, one half of the merchandise was sold for P36,000 cash. in the books of BBB, the Investment in Joint Operation account on May 30, 2021 would show a balance of:
A. 45,750
B. 56,250
C. 50,000
D. 54,250
AAA, BBB and CCC are partners sharing profits in the ratio of 5:3:2, respectively. As of December 31, 2021, their capital balances were P87,800 for AAA, P80,000 for BBB and P67,200 for CCC. On January 1, 2022, the partners admitted ODD as a new partner and according to their agreement; DDD will contribute P80,000 in cash to the partnership and also pay P10,000 for 1596 of BBB's share. DDD will be given a 20% share in profits, while the original partners' share will be proportionately the same as before. After the admission of DDD, the total capital will be P330,000 and DDD's capital will be P70,000. What is the balance of BBB's capital, after the admission of CCC?
A. 74,600
B. 72,600
C. 79,100
D. 81,100
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