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What is the total partnership capital after the retirement

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Reference no: EM132815098

Problem 1: Katy, Perry and Lacoste are partners sharing profits equally and with capital balances of P 80,000, P 120,000 and P 160,000 respectively. Perry decides to withdraw from the partnership and he received P 160,000 in settlement of his interest. If the bonus method is used, what is the capital balance of Lacoste after the retirement of Perry?

Problem 2: Using data above, what is the total partnership capital after the retirement of Perry?

Reference no: EM132815098

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