The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the partnership are undervalued by 20% and the liabilities are overvalued by 10%, how much is the correct amount of Partner B’s capital if his interest in the partnership is 40%
The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the partnership are undervalued by 20% and the liabilities are overvalued by 10%, how much is the correct amount of Partner B’s capital if his interest in the partnership is 40%
The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the partnership are undervalued by 20% and the liabilities are overvalued by 10%, how much is the correct amount of Partner B’s capital if his interest in the partnership is 40%
The partnership capital is 300,000 and its total liabilities are 100,000. if the assets of the partnership are undervalued by 20% and the liabilities are overvalued by 10%, how much is the correct amount of Partner B’s capital if his interest in the partnership is 40%
A. 200,000 B. 164,000 C. 160,000 D. 120,000
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement 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, and drawings of a partner.
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