question archive Julia, Alpha and Ynes are partners who share profits and losses in a 5:3:2 ratios and on January 1 of the current year, have capital balances of P90,000, P160,000 and P200,000, respectively
Julia, Alpha and Ynes are partners who share profits and losses in a 5:3:2 ratios and on January 1 of the current year, have capital balances of P90,000, P160,000 and P200,000, respectively
Subject:AccountingPrice: Bought3
Julia, Alpha and Ynes are partners who share profits and losses in a 5:3:2 ratios and on January 1 of the current year, have capital balances of P90,000, P160,000 and P200,000, respectively. Ynes withdrew from the partnership on July 1 of the current year and the partners agreed that, as of this date, certain inventory items would have to be revalued at P70,000 from their recorded cost of P50,000. For the 6-month period ending June 30 of the current year, the partnership realized a net income of P130,000. The partners decided that Ynes should be paid P245,000 for her interest. The payment to Ynes included bonus from remaining partners amounting to?
