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{"ops":[{"insert":"A.\u00a0\u00a0\u00a0Partner\u2019s G and M have capital account balances of P30,000 and P20,000 respectively. They share profits and losses 3 :1 ratio .\n\u00a0\nRequired Prepare journal entries to record the admission of of P under each of the following condition.\n1.\u00a0\u00a0\u00a0P invested P30,000 for a one fourth interest in the net asset;the total partnership capital after p\u201ds admission will be P80,000.\n2.\u00a0\u00a0\u00a0P invested P30,000 of which P10,000 is a bonus to G and M in conjunction with admission of Padilla , the carrying amount of the inventories is increased by P16,000. Padilla\u2019s capital accounts is credited for P20,000.\n"}]}
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