In investment in partnership, the payment made by new partner is A) Paid to the partnership В Paid to partners (С) Paid creditors D Paid to customers

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the answer on questions 1 and 2? 

In investment in partnership, the payment made by new
partner is
A
Paid to the partnership
B
Paid to partners
C) Paid to creditors
D
Paid to customers
Transcribed Image Text:In investment in partnership, the payment made by new partner is A Paid to the partnership B Paid to partners C) Paid to creditors D Paid to customers
Partner Jose decided to withdraw from the partnership he
then sold his interest to the partnership. What will be the
source of payment to Partner Jose?
A
Partners assets
B) Partnership assets
C) Partnership creditors
D
none
Transcribed Image Text:Partner Jose decided to withdraw from the partnership he then sold his interest to the partnership. What will be the source of payment to Partner Jose? A Partners assets B) Partnership assets C) Partnership creditors D none
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