Mallari and Chua are partners who share profits and losses in a ratio of 3:2, respectively. They have thefollowing capital balances on Sept. 30, 2020.Mallari, Capital P 250, 000Chua, Capital P 500, 000The partners agreed to admit Palatino to the partnership.REQUIRED: Calculate the capital balances of each partner after the admission of Palatino, assuming thatbonuses are recorded when appropriate for each of the following assumptions:1. Palatino paid Mallari P 250, 000 for a 50% of his interest.2. Palatino invested P 250, 000 for a one- fourth interest in the partnership.3. Palatino invested P 250, 000 for a 30% interest in the partnership.4. Palatino invested P 250, 000 for a 20% interest in the partnership.
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