PROBLEM B EW PARTNER Acacia and Karla capital is P480,000 and P520,000. Profit share ratio is 4:6. Bubbles Invested P500,000 for a 30% Interest In the partnership. 3. What is the capital of Acacia after admitting Bubbles? a. 480,000 b. 500,000 c. 520,000 d. 550,000 4. What is the capital of Karla after admitting Bubbles? a. 480,000 b. 500,000 c. 520,000 d. 550,000 5. What is the capital of Bubbles after admission? a. 450,000 b. 500,000 c. 520,000 d. 550,000
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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