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06-06-2023
Business

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May, Jun, and Julie have partnership capital account balances of P225,000, P450,000 and P105,000, respectively. The income sharing ratio is May, 50% ; Jun, 40%; and Julie. 10%. May desires to withdraw from the partnership and it is agreed that partnership assets of P195,000 will be used to pay May for her partnership interest. How much is the balance of Jun's capital account after May's withdrawal using the asset revaluation method?

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