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Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below: Saleem $ 60,000 Hani $ 60,000 Osama $
Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below:
Saleem $ 60,000
Hani $ 60,000
Osama $ 50,000.
On 1/1/2021, Raed is accepted as a new partner. He will invest an amount of cash into the partnership, to allow him to get a 15% share in the new partnerships total capital, with no bonuses given to anyone. How much did he invest as cash?
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Human Resource Management
Authors: Robert L. Mathis, John H. Jackson
13th Edition
053845315X, 978-0538453158
