Hi,
I have a question about a partnership case in a privately owned company; 3 partners formed a company each paying 50K capital (Total 150K), the company made 180K profit over a period of 2 years, profit is distributed equally so now each partner's capital+profit is 50K+60K=110K.
One of the partners is leaving, a new partner is entering in its place but can't pay him the whole sum of 110K, so the new partner pays the leaving one his capital of 50K in cash, and hands him 20K in future cheques divided on the next 12 months, now the leaving partner still have 40K more to collect.
Before moving to last 40K, the 3 surviving partners now own the following capitals: Old partner 1= 110K (38%), Old partner 2= 110K (38%), New partner= 70K (24%), and future profits will be distributed according to these percentages instead of equal profit.
the 3 surviving partners decide to pay the last 40K in 12 months installments to the leaving partner and to pay the amount from the company's bank account, assuming that 200K net profit is achieved during the next 12 months where the new partner participates in profit, what will be the final shares (in Ks and in %) for the 3 surviving partners after fully paying the leaving partner's money?
Thanks in advance
I have a question about a partnership case in a privately owned company; 3 partners formed a company each paying 50K capital (Total 150K), the company made 180K profit over a period of 2 years, profit is distributed equally so now each partner's capital+profit is 50K+60K=110K.
One of the partners is leaving, a new partner is entering in its place but can't pay him the whole sum of 110K, so the new partner pays the leaving one his capital of 50K in cash, and hands him 20K in future cheques divided on the next 12 months, now the leaving partner still have 40K more to collect.
Before moving to last 40K, the 3 surviving partners now own the following capitals: Old partner 1= 110K (38%), Old partner 2= 110K (38%), New partner= 70K (24%), and future profits will be distributed according to these percentages instead of equal profit.
the 3 surviving partners decide to pay the last 40K in 12 months installments to the leaving partner and to pay the amount from the company's bank account, assuming that 200K net profit is achieved during the next 12 months where the new partner participates in profit, what will be the final shares (in Ks and in %) for the 3 surviving partners after fully paying the leaving partner's money?
Thanks in advance