Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

IF A & B are two partners, A partner has 1 5 , 0 0 0 capital and the same amount for B . They

image text in transcribed
IF A & B are two partners, A partner has 15,000 capital and the same amount for B. They agreed to enter new partner C for having 50% of the capital and income if he paid 25,000 what is the amount of capital recorded to new partner C?
Select one:
a.35,000
b.15,000
c.25,000
d.30,000
Palestine company reports net income of $25,000. If partners Nidal, Bassam, and Kamal have an income ratio of 50%,30% and 20% respectively, kamal share of the net income is:
Select one:
a.6,000
b.7,500
c.5,000
d.12,500
if x and Y agree to establish a partnership with a total capital of 24,000 divided 2:1 respectively what is the amount of Y's capital
Select one:
a.8,000
b.10,000
c.16,000
d.12,000
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

7th edition

1259722635, 978-1259722639

More Books

Students also viewed these Accounting questions

Question

Differentiate the function. r(z) = 2-8 - 21/2 r'(z) =

Answered: 1 week ago