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Determine the total capital after admission under bonus

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Reference no: EM133030850

Question - A and B with capital balances: 15000, 25000 respectively, A and B share profits and losses 40%, 60% respectively. At that date C is admitted as a new partner for 20% interests in partnership, he purchases 20% interests from each for 18,000 paid directly to A and B. Determine the total capital after admission under bonus?

Reference no: EM133030850

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