Paulo, Eron and Dom opened an accounting firm on January 2, 2018 in Quezon City. The...
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Paulo, Eron and Dom opened an accounting firm on January 2, 2018 in Quezon City. The business was registered as a partnership for which Paulo serves as the managing After its third year of operations, the partners decided to admit Kiko as a new partner. The capital balances of the partners before the admission of Kiko were: Paulo- P220,000; Eron- P150,000 and Dom-P200,000, while profits and losses were shared by them in the ratio of 50:30:20, respectively. How much should Kiko invest in order to have a 20% interest in the partnership? Paulo, Eron and Dom opened an accounting firm on January 2, 2018 in Quezon City. The business was registered as a partnership for which Paulo serves as the managing After its third year of operations, the partners decided to admit Kiko as a new partner. The capital balances of the partners before the admission of Kiko were: Paulo- P220,000; Eron- P150,000 and Dom-P200,000, while profits and losses were shared by them in the ratio of 50:30:20, respectively. How much should Kiko invest in order to have a 20% interest in the partnership?
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The total capital before Kikos admission is the sum of the capital balances of Paulo Eron and Dom To... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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