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How much is the capital balance of D

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    Assignment ID: FG133135919

    Question – C and D are partners who share profits and losses in the ratio of 7:3, respectively. On October 5, 2019, their respective capital accounts were as follows:

    C – P35,000

    D- 30,000

    On that date they agreed to admit S as a partner with a one-third interest in the capital and profits and losses, and upon his investment of P 25,000. The new partnership will begin with a total capital of P 90,000. Immediately after S’ admission,

    1. How much is the capital balance of D?

    2. How much is the capital balance of C?

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