In their partnership agreement, Jane, Jill, and Bridget, have an income/loss distribution ratio of 5:3:2. How much would each of the three partners receive from an income of $120,000? Jane will get …$ Jill will get ----$ Bridget will get….$
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.
- In their
partnership agreement, Jane, Jill, and Bridget, have an income/loss distribution ratio of 5:3:2. How much would each of the three partners receive from an income of $120,000?
- Jane will get …$
- Jill will get ----$
- Bridget will get….$
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