In continuing their discussion from Question 13, Bill says that even in the case of a capital

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In continuing their discussion from Question 13, Bill says that even in the case of a capital deficiency, all cash should still be distributed on the basis of capital balances. Is Bill correct? Explain.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Dec 27, 2011 08:13 AM

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In continuing their discussion from Question 13, Bill says that even in the case of a capital

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Yes Bill is correct As per partnership deed all gains and losses on liquidation should be dis...View the full answer

Accounting Principles

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