n the AB partnership, A's capital is P150,000 and B's capital P50,000 and they share income in a 1:4 ratio, respectively. They decided to admit C to the partnership. A and B agree that some of the inventory is obsolete. C contributed P50,000 for a 40% interest in capital and 30% in the profit/loss sharing. Determine the amount of inventory write-down.
n the AB partnership, A's capital is P150,000 and B's capital P50,000 and they share income in a 1:4 ratio, respectively. They decided to admit C to the partnership. A and B agree that some of the inventory is obsolete. C contributed P50,000 for a 40% interest in capital and 30% in the profit/loss sharing. Determine the amount of inventory write-down.
n the AB partnership, A's capital is P150,000 and B's capital P50,000 and they share income in a 1:4 ratio, respectively. They decided to admit C to the partnership. A and B agree that some of the inventory is obsolete. C contributed P50,000 for a 40% interest in capital and 30% in the profit/loss sharing. Determine the amount of inventory write-down.
n the AB partnership, A's capital is P150,000 and B's capital P50,000 and they share income in a 1:4 ratio, respectively. They decided to admit C to the partnership. A and B agree that some of the inventory is obsolete. C contributed P50,000 for a 40% interest in capital and 30% in the profit/loss sharing.
Determine the amount of inventory write-down.
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement 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, and drawings of a partner.
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