On April 30, 2009, the capital accounts of P, Q, R shows the following balances: P-P150,000, Q – 75,000 and R – P45,000. At this time, S is admitted to the firm when he purchases a one-sixth interest in the firm for P27,5000. Afterwards, all the partners agree to divide profits and losses equally. The new partnership closes its

Sep 8, 2023

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On April 30, 2009, the capital accounts of P, Q, R shows the following balances: P-P150,000, Q – 75,000 and R – P45,000. At this time, S is admitted to the firm when he purchases a one-sixth interest in the firm for P27,5000. Afterwards, all the partners agree to divide profits and losses equally. The new partnership closes its
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