Question

ibrahim and adam decided to admit a new partner Liu to a one forth equity interest in the
partnership for an investment of $80.000. Prepare a general entry to record the admission of
Liu. Also explain the calculation of Bonus to the existing partners or the incoming partner is
computed? ibrahim and adam divide the profit and loss 60% to the ibrahim and 40% to
the adam. At the present time the investment capital of each partner is $ 140,000.​

Answer 1

Answer:

Richard Cavendish explains how Europe's earliest modern-style banknotes were introduced by the Bank of Stockholm in the 17th century.