Question
Harry,Niall,Horan and Liam share profits and losses 20%, 20%, 20% and 40%, respectively. Horan retired from the partnership on May 31, 2008 and was paid
Harry,Niall,Horan and Liam share profits and losses 20%, 20%, 20% and 40%, respectively. Horan retired from the partnership on May 31, 2008 and was paid P150,000 cash in full settlement of his interest in the partnership. Then on June 1, 2008, Luke was admitted to the partnership with a P60,000 cash investment for a 10% interest in the partnership. How much is the capital to be credited to Luke?
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BondsA Concise Guide For Investors
Authors: M. Choudhry
2nd Edition
0230006493, 9780230006492
