Amir, Tamer and Sameer are partners in a partnership firm sharing profits and losses on the basis of 40:35:25 respectively and their capital balances are $100,000, $80,000& $40,000 respectively. Maher was admitted to the partnership firm by making an investment of $100,000 with 30% ownership interest. Amir, capital after admitting Maher is: O a. $100,000 O b. $104,000 Oc. $101,600 O d. $89,400
Amir, Tamer and Sameer are partners in a partnership firm sharing profits and losses on the basis of 40:35:25 respectively and their capital balances are $100,000, $80,000& $40,000 respectively. Maher was admitted to the partnership firm by making an investment of $100,000 with 30% ownership interest. Amir, capital after admitting Maher is: O a. $100,000 O b. $104,000 Oc. $101,600 O d. $89,400
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 14MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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