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Rachel and Monica run a boutique. The initial capital was 120,000 for Rachel and 180,000 for Monica. During the year: Rachel invested an additional 15,000.
- Rachel and Monica run a boutique. The initial capital was ₹120,000 for Rachel and ₹180,000 for Monica. During the year:
- Rachel invested an additional ₹15,000.
- Monica invested an additional ₹25,000.
- The boutique made a net profit of ₹35,000.
- The profit is shared in the ratio of their original capital contributions. Calculate:
- Net profit share for each.
- Ending capital balances for both.
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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
11th edition
1259535312, 978-1259535314
