Samuel and Darci are partners. The partnership capital for Samuel is $58,900 and that of Darci is $72,100. Josh is admitted as a new partner by investing $54,800 cash. Josh investment. The amount of the bonus to the old partners is a. $54,800 b. $8,350 c. $61,933 d. $0 given a 25% interest in return for his
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.
![Samuel and Darci are partners. The partnership capital for Samuel is $58,900 and that of Darci is $72,100. Josh is admitted as a new partner by investing $54,800 cash. Josh is given a 25% interest in return for his
investment. The amount of the bonus to the old partners is
a. $54,800
b. $8,350
Oc. $61,933
Od. $0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F679cf9fe-7ea4-4759-a28d-7fe07c30cdca%2F988a1068-7e4c-4ed3-9661-1410cbd5b1e8%2Fgoe6mya_processed.png&w=3840&q=75)
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