Answer to Question #313573 in Macroeconomics for lydia

Question

Calculate the new profit sharing ratio after the admission of Fischer.

Da Silva and Ehlers decided to admit Fischer as from 01 January 2018 as a partner under the following term and conditions:

Fischer will receive 1/5 of the profit and losses.

Da Silva and Ehlers will contribute in the ratio 2: 1 toward Fischer s 1/5 profit share

Fischer must pay N$1800000 for her 1/5 share in the partnerships assets

The assets of the partnership were re- valued on 1 January 2018 and the revaluation account revealed a surplus of N$60000

Answer 1

It's been a while since this question is posted here. Still, the answer hasn't been got. Consider converting this question to a fully qualified assignment, and we will try to assist. Please click the link below to proceed: Submit order