The partners' proht and los sharing ratio is 2:35, respectively 8, V. AND S PARTNERSHIP Balance Sheet December 31, 2021 Liabilties and Partoers tauity Assets Cash $34200 Labilities Equioment 90600 B. Capital 20400 Accum dep-euiement (15600 v.Capital 25s00 S. Capital 12500 Total $109200 Total $10200 I the B. V. and S Partnership is quidated by seling the eipment for $124400, and creditors are paid in full what is the total aneunt of cash that Partner will recelve in the distribution of cash to partrers $25500 $45300 $40280 Attempts: 0of1sed S A
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.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
