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How are partnership ratios determined when a new partner enters a partnership for a percentage greater...

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Accounting

How are partnership ratios determined when a new partner entersa partnership for a percentage greater than what they contributed?How are the liabilities of a partnership allocated when apartnership is liquidated?

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1 Partnership Ratios There are three types of terms used to define the ratios New profit sharing ratio Ratio in which the partners decide to share profitslosses in future Gaining ratio Ratio in which the partners have agreed to gain their share of profit from other partners Sacrificing ratio Ratio in    See Answer
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