Queen and king are partners with capital balances 550,000 and 350,000 respectively; the share income and loss in the ratio of 1:3 respectively. Second is to invest 180,000 cash and is to recieve a one-tenth in the partnership. What is the capital balances of Queen and king after the investment?
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.
Queen and king are partners with capital balances 550,000 and 350,000 respectively; the share income and loss in the ratio of 1:3 respectively. Second is to invest 180,000 cash and is to recieve a one-tenth in the partnership. What is the capital balances of Queen and king after the investment?
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