The summarised Balance Sheet for F and G in partnership is given. F and G have previously
Question:
The summarised Balance Sheet for F and G in partnership is given.
F and G have previously shared profits and losses in the ratio of 2 : 1 but have now decided to change the ratio to 3 : 2.
Goodwill is to be revalued and shown in the Balance Sheet at 30 000.
What is the new balance on F's Capital account?
A. $23 800
B. $24 000
C. $34 800
D. $36 000
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Lets break down the information given step by step Initial Capital Accounts Partner Fs Capital 24000 ...View the full answer
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