3. Bonnie and Daisy are partners with capital balances of P400,000 and P320,000,
respectively. Profits and losses are shared equally. Accounting books have been closed
after the regular adjustments were prepared. The company is considering the admission
of Maggie, a new partner, who is interested in buying 50% interest from anyone of the
partners. The following options are open:
(a) Daisy is offering a price of P150,000 for the interest Maggie wants to buy.
(b) Bonnie is willing to sell half her interest in exchange for the car of Maggie which
was acquired for P500,000 but is currently worth half the price.
(c) Daisy is willing to sell half of her interest for P200,000. The partners agree to revalue
the firm's assets first before Maggie's admission.