Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Jan 2018 My Price 5.00

partnership of Man

Capital balances and profit sharing percentages for the partnership of Man, Eme, and Fot on January 1, 2011, are as follows:
Man (36%) ………….. $140,000
Eme (24%) …………… 100,000
Fot (40%) ……………. 160,000
$400,000
On January 3, 2011, the partners agree to admit Box into the partnership for a 25 percent interest in capital and earnings for his investment in the partnership of $120,000. Partnership assets are not to be revalued.
REQUIRED
1. Determine the capital balances of the four partners immediately after the admission of Box.
2. What is the profit and loss sharing ratio for Man, Eme, Fot, and Box?

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Jan 2018 09:01 PM My Price 5.00

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