A company purchased $10,300 of merchandise on June 15 with terms of 2/10. n/45, and FOB shipping point. The freight charge, $650
1 answer:
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Answer:
A = $97,200
B = $32,400
C = $129,600
D = $64,800
E = $36,000
Explanation:
Provided for 10% share in business E contributes = $36,000
That means total capital = $36,000/10% = $360,000
Therefore remaining partner's share = 100 - 10% = 90%
Total Value of share of all partners except E = $360,000 - $36,000 = $324,000
Which shall be in the ratio
A = 30%, B = 10%, C = 40%, D = 20%
Therefore, capital balances shall be as follows:
A = $324,000 30% = $97,200
B = $324,000 10% = $32,400
C = $324,000 40% = $129,600
D = $324,000 20% = $64,800
E = $36,000
Total Share = $360,000