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What would be the capital balance of cariaso

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Reference no: EM132765121

Question - Cardel desires to purchase a one-fourth capital and profit and loss interest in the partnership of Cariaso, Carino, and Carillo. The three partners agree to sell Cardel one-fourth of the respective capital and profit and loss interest in exchange for a total payment of P200,000. The profit and loss ratio and capital balances of the partners are as follows: Cariaso (60%) - P400,000; Carino (30%) - P200,000; and Carillo (10%) - P100,000. If assets are to be revalued prior to the admission of Cardel, what would be the capital balance of Cariaso after the admission of Cardel?

Reference no: EM132765121

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