okuto and Kuroo formed a partnership and agreed to divide initial capital equally, even though Bokuto contributed P100,000 and Kuroo gave P86,000 in identifiable assets. Under the bonus approach to adjust capital accounts, Kuroo’s capital account should be credited for * a. 86,000 b. 100,000 c. 84,000 d. 93,000
okuto and Kuroo formed a partnership and agreed to divide initial capital equally, even though Bokuto contributed P100,000 and Kuroo gave P86,000 in identifiable assets. Under the bonus approach to adjust capital accounts, Kuroo’s capital account should be credited for * a. 86,000 b. 100,000 c. 84,000 d. 93,000
okuto and Kuroo formed a partnership and agreed to divide initial capital equally, even though Bokuto contributed P100,000 and Kuroo gave P86,000 in identifiable assets. Under the bonus approach to adjust capital accounts, Kuroo’s capital account should be credited for * a. 86,000 b. 100,000 c. 84,000 d. 93,000
okuto and Kuroo formed a partnership and agreed to divide initial capital equally, even though Bokuto contributed P100,000 and Kuroo gave P86,000 in identifiable assets. Under the bonus approach to adjust capital accounts, Kuroo’s capital account should be credited for *
a. 86,000
b. 100,000
c. 84,000
d. 93,000
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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