Partnership Dissolution: Problem 2 Partners AIL and Charish capital is 480,000 and 520,000, respectively. They share profit or loss equally in their merchandising business. After admitting BLAIRE, they agreed to have a total capital of P2,500,000. The new partner invested P500,000 for 30% interest in the business. Questions: 6. What is the capital of AIIL and Charish after admitting BLAIRE? 7. What is the capital of BLAIRE after admission? 8. How much is the amount of Bonus to or (from) Charish? 9. How much is the amount of revaluation credited to AIL?
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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