Yves, Saint and Laurent are partners of YSL Partnership with capital balances of P80,000, P120,000 and P160,000, respectively. They share profits and losses in the ratio of 30:40:30. Saint decides to withdraw from the partnership and received P 160,000 in settlement of his interest. Assuming asset revaluation method is used, what is the capital balance of Laurent immediately after the retirement of Saint?
Yves, Saint and Laurent are partners of YSL Partnership with capital balances of P80,000, P120,000 and P160,000, respectively. They share profits and losses in the ratio of 30:40:30. Saint decides to withdraw from the partnership and received P 160,000 in settlement of his interest. Assuming asset revaluation method is used, what is the capital balance of Laurent immediately after the retirement of Saint?
Yves, Saint and Laurent are partners of YSL Partnership with capital balances of P80,000, P120,000 and P160,000, respectively. They share profits and losses in the ratio of 30:40:30. Saint decides to withdraw from the partnership and received P 160,000 in settlement of his interest. Assuming asset revaluation method is used, what is the capital balance of Laurent immediately after the retirement of Saint?
Yves, Saint and Laurent are partners of YSL Partnership with capital balances of P80,000, P120,000 and P160,000, respectively. They share profits and losses in the ratio of 30:40:30. Saint decides to withdraw from the partnership and received P 160,000 in settlement of his interest. Assuming asset revaluation method is used, what is the capital balance of Laurent immediately after the retirement of Saint?
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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