K1 and K2 are partners who have capital balances of P95,000 and P65,000 and who share profits 60% and 40% respectively.
Posted: Mon May 30, 2022 8:01 am
K1 and K2 are partners who have capital balances of P95,000 and
P65,000 and who share profits 60% and 40% respectively. They agree
to admit H3 as a partner upon his payment of P94,000. One-fourth
(1/4) of the capital balances of the old partners are transferred
to the new partner, old partners dividing the cash between
themselves. K3 the new partner capital must be equal to the amount
paid for his interest. How much is the new Profit and loss % of
K2?
P65,000 and who share profits 60% and 40% respectively. They agree
to admit H3 as a partner upon his payment of P94,000. One-fourth
(1/4) of the capital balances of the old partners are transferred
to the new partner, old partners dividing the cash between
themselves. K3 the new partner capital must be equal to the amount
paid for his interest. How much is the new Profit and loss % of
K2?