The following Information pertains to ABC Partnership of A, B and C: A. Capital (20%) P 200,000 B. Capital (30%) 200,000 C. Capital (50%) 300,000 On this date, the partners agreed to admit D into the partnership. Assuming D purchased 50% from all the partners A, B, and C and pays total amount of P500,00Q How much would be the personal gain of Partner A for selling his 50% interest to D?
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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