Dhel and Delia agreed to form a partnership contributing their perspective assets and liabilities subject to the following adjustments: a. The accounts receivable of Dhel is believed to be 95% collectible while that of Delia is 90% realizable. U. Unrecognized interest on the notes receivable of both Dhel and Delia, 12% for two months.
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.
Hi! I'm from the Philippines. Our topic is about formation of the partnership. The attached pictures are the problems and adjustments.
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If it's possible, I also would like to see the adjustments in a
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