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What is the capital balance of partner X

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Question - XYZ Enterprises is a partnership owned by X, Y and Z. Y decided to retire from the partnership. The partners' capitals are: X-P720,000; Y - P180,000; and Z - P360,000. The partnership profits and loss is distributed in the ratio of 5:1:4.

1. Using the same information, what is the capital balance of partner X after the withdrawal of Y?

2. Using the same information, what is the capital balance of partner Z after the withdrawal of Y?

3. Using the same information, what is the effect of Y's withdrawal to the total equity of the partnership?

4. If Zis paid P210,000 to Y a full payment of his equity in the partnership, how much was the bonus?

5. Using the same information, what is the capital balance of partner X after the withdrawal of Y?

6. Using the same information, what is the capital balance of partner Z after the withdrawal of Y?

Reference no: EM132944088

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