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What the net assets of the firm as of date approximate

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Reference no: EM132772167

The capital accounts of A&B Co. before admission of C are as follows:

Capital accounts P/L ratios

A, Capital P150,000 40%

B, Capital P250,000 60%

400,000

Problem 1. C purchases 10% interest out of the 30% interest of A for P100,000. The net assets of the firm as of this date approximate their fair values.

A. A's balance is 150,000

B. B's balance is 200,000

C. C's balance is 100,000

D. C's balance is 45,000

Reference no: EM132772167

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