P 300,000 100,000 200,000 Ignatius 50% Francis 20% Peter 30%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Exercise 4-8. Admission by Investment: Computing New Partner's Capital Contribution
Serenity Partnership has the following capital balances and profit and loss sharing percentages:
Р 300,000
100,000
Ignatius
50%
Francis
20%
Peter
30%
200,000
Martin is going to invest cash into the business to give him a 20% ownership interest in the
partnership.
Required: Compute for the capital to be invested by the new partner, Martin.
Transcribed Image Text:Exercise 4-8. Admission by Investment: Computing New Partner's Capital Contribution Serenity Partnership has the following capital balances and profit and loss sharing percentages: Р 300,000 100,000 Ignatius 50% Francis 20% Peter 30% 200,000 Martin is going to invest cash into the business to give him a 20% ownership interest in the partnership. Required: Compute for the capital to be invested by the new partner, Martin.
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