Saleem, Hani, and Osama are partners in SHO partnership. Their capital balances on 31/12/2020 are given below:
Saleem $ 50,000
Hani $ 50,000
Osama $ 40,000.
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 30% share in the new partnership's total capital, with no bonuses given to anyone. How much did he invest as cash?