Cody and lacy have balances of $78,000 and $46,000 respectively. Valeria is admitted to the partnership at a 30% interest for a purchase price of $32,000. A what is the partnership bonus B what is the journal entry to admit valeria into the partnership
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
Cody and lacy have balances of $78,000 and $46,000 respectively. Valeria is admitted to the
A what is the partnership bonus
B what is the
A. Following are the calculation of partnership bonus:
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