ne capital balances of partners Lim and Jan before the admission of Wan were P 200,000 and 300,000, respectively. Wan invested a certain amount for a 25% interest in the partnership. sa result of his admission, the old partners received a total bonus of P 25,000. How much is he total partnership capital after admission of Wan? o input answers, kindly follow the sample format below(no peso sign, with comma, no space): ex. 100,000
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.
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