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

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Chapter15: Partnership Accounting
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Problem 14MC: Thandie and Marco are partners with capital balances of $60,000. They share profits and losses at...
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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:
a. $100,000
O b. $104,000
O c. $101,600
O d. $89,400
Transcribed Image Text: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: a. $100,000 O b. $104,000 O c. $101,600 O d. $89,400
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