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Record the admission of jaymee under each cases

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    Assignment ID: FG133136298

    Question – Hermie and Imee are partners sharing profits and losses in the ratio of 3:2, respectively. Their capital investments are: Hermie – Php100,000; Imee – Php50,000. They agree to admit Jaymee into the partnership.

    Required – Record the admission of Jaymee under each of the following independent cases: (show computations)

    a. Jaymee purchases ¼ of Hermie’s interest for Php24,000.

    b. Imee sells ½ of her interest to Jaymee for Php24,000.

    c. Jaymee purchases ½ interest of both partners for Php75,000.

    d. Jaymee purchases ½ interest of both partners for Php80,000.

    e. Jaymee purchases ½ interest of both partners for Php70,000.

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