Question
Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below: Saleem $ 90,000 Hani $ 60,000 Osama $
Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below:
Saleem $ 90,000
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 20% share in the new partnerships total capital, with no bonuses given to anyone. How much did he invest as cash?
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Auditing Principles A Systems Based Approach
Authors: Howard F. Stettler
5th Edition
0130517224, 9780130517227
