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Amr and Tarek are partners, each has an interest of $22,000 and $23,000 respectively. they share profits and losses in the ratio of 6:4 Hisham
Amr and Tarek are partners, each has an interest of $22,000 and $23,000 respectively. they share profits and losses in the ratio of 6:4 Hisham is a new partner.
Hisham is a new partner;
case 1: Assume he'll purchase one fourth capital interest of each partner.
case 2: Assume he'll invest $15,000
case 3: Assume he'll invest $19,000
case 4: Assume he'll invest $12,600
to get 1/4 of the partnership.
what would be the journal entry to admit Hisham in each case.
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