Amir, Tamer and Sameer are partners in a partnership firm sharing profits and losses on the basis of 40:35:25 respectively and their capital balances are $100,000, $80,000& $40,000 respectively. Maher was admitted to the partnership firm by making an investment of $100,000 with 30% ownership interest. :Amir, capital after admitting Maher is .a $89,400 .b $101,600 .C $104,000 .d $100,000
Amir, Tamer and Sameer are partners in a partnership firm sharing profits and losses on the basis of 40:35:25 respectively and their capital balances are $100,000, $80,000& $40,000 respectively. Maher was admitted to the partnership firm by making an investment of $100,000 with 30% ownership interest. :Amir, capital after admitting Maher is .a $89,400 .b $101,600 .C $104,000 .d $100,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pleaae explain it properly
![Amir, Tamer and Sameer are partners in a
partnership firm sharing profits and losses on
the basis of 40:35:25 respectively and their
capital balances are $100,000, $80,000&
$40,000 respectively. Maher was admitted to
the partnership firm by making an investment
of $100,000 with 30% ownership interest.
:Amir, capital after admitting Maher is
.a
$89,400
.b
$101,600
.C
$104,000
.d
$100,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7c8d0b20-b01e-48fb-8221-aea2db540516%2F1511c53a-9401-434d-98e9-8c843c6ee4b6%2F6pzq43n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Amir, Tamer and Sameer are partners in a
partnership firm sharing profits and losses on
the basis of 40:35:25 respectively and their
capital balances are $100,000, $80,000&
$40,000 respectively. Maher was admitted to
the partnership firm by making an investment
of $100,000 with 30% ownership interest.
:Amir, capital after admitting Maher is
.a
$89,400
.b
$101,600
.C
$104,000
.d
$100,000
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