May and Jun are partners with profit and loss ratio of 40:60 and capital balares of P600,000 and P400,000 respectively. On June 09, 2022, Julie was admitted into the partnership by investment for a 20% of the total partnership capitalization. What is Jun's new Proft and Loss Ratio after the admission of Julie? Note: Express your answer either in percentage or decimal. example: 50% or 0.50
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
May and Jun are partners with
What is Jun's new Proft and Loss Ratio after the admission of Julie?
Note: Express your answer either in percentage or decimal. example: 50% or 0.50
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