Mark and John are partners in a business. Mark's initial capital was ?250,000, and John's...
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Accounting
- Mark and John are partners in a business. Mark's initial capital was ?250,000, and John's was ?200,000. During the year, Mark made an additional investment of ?30,000 and John ?25,000. The business incurred a net profit of ?40,000, which is to be shared in the ratio of their original capital contributions. Compute the ending capital balances for both Mark and John.
Partner | Initial Capital | Additional Investment | Net Profit Share | Ending Capital |
Mark | ?250,000 | ?30,000 | ? | ? |
John | ?200,000 | ?25,000 | ? | ? |
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