Urbana, Victoria and Warlita are professional makeup artists and hairdressers. They formed a partnership agreeing to invest cash that will satisfy the desired capital ratio of 2:3:3, respectively. How much was invested by Warlita if the net assets of the partnership immediately after formation amount to P 500,000? Group of answer choices P 187,500 P 100,000 P 150,000 P 125,500
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.
Urbana, Victoria and Warlita are professional makeup artists and hairdressers. They formed a
Group of answer choices
P 187,500
P 100,000
P 150,000
P 125,500
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