TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1, respectively, and SJ’s capital balance after GD’s investment is P589,750, Group of answer choices 848,750 847,000 1,174,250 588,000
TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1, respectively, and SJ’s capital balance after GD’s investment is P589,750, Group of answer choices 848,750 847,000 1,174,250 588,000
TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1, respectively, and SJ’s capital balance after GD’s investment is P589,750, Group of answer choices 848,750 847,000 1,174,250 588,000
TM and SJ, having capital balances of P980,000 and P525,000 respectively, decided to admit GD into their partnership. GD is to invest sufficient amount in order to have a 25% interest in the partnership. If TM and SJ share profit in a proportion of 3:1, respectively, and SJ’s capital balance after GD’s investment is P589,750,
Group of answer choices
848,750
847,000
1,174,250
588,000
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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