Oya Partners 28 February 2022 Partner OYO OYU Capital Contribution R400 000 R300 000 Remaining profits of R45 000 is to be shared by both partners at a ratio of 3:1 respectively. In this case OYO will get R33 750 and OYU will get R11 250. Select one: O True O False
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.
Do not give answer in image
Step by step
Solved in 3 steps
