Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are...
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Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below: Saleem $ 60,000 Hani $ 60,000 Osama $ 50,000. On 1/1/2021, Raed is accepted as a new partner. He will invest an amount of cash into the partnership, to allow him to get a 15% share in the new partnerships total capital, with no bonuses given to anyone. How much did he invest as cash?
Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below:
Saleem $ 60,000
Hani $ 60,000
Osama $ 50,000.
On 1/1/2021, Raed is accepted as a new partner. He will invest an amount of cash into the partnership, to allow him to get a 15% share in the new partnerships total capital, with no bonuses given to anyone. How much did he invest as cash?
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