Since about January 2, 2020, Mandan, Emeril, with Fontenot's partnership had the following capital balances and profit-sharing ratios: Mandan (36%) 140,000 Emeril (24%) 100,000 Fontenot (40%) 160,000 All investors agree to accept Boudreaux through into partnership on January 4, 2020 in exchange for a 25% stake in capital and earnings for his P120, 000 commitment. Assets of the Partnership shall not be reprised. What is Partner Mandan's capital position just after Boudreaux's admittance?
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.
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