Raghad and Reem are partners with capital balances of 40,000 and 30,000 SR respectively, and...
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Accounting
Raghad and Reem are partners with capital balances of 40,000 and 30,000 SR respectively, and they share profits and losses in the ratio of 3:2, respectively. Ibrahim invests 15,000 SR cash for a 30% interest in the capital and profits of the new partnership. Using bonus method what is capital credited to Ibrahim. a. 40,000 b. 25,000 c. 25,500 O d. 30,000
Parent has an investment account of 500,000 SR and it sold the whole stocks against 550,000 SR. Required: pass journal entry to record disposing of investment account in parent's books
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