Assume that Gilbert and Bufton (see Activity 6.1) started the year with capital account balances of 25,900

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Assume that Gilbert and Bufton (see Activity 6.1) started the year with capital account balances of £25,900 and £15,750 respectively. During the year, Gilbert drew out £35,000 from the partnership and Bufton took £17,000.

Show the relevant extract from the partnership’s statement of financial position as at 31 December 2013.

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Accounting And Finance For Business

ISBN: 9780273773948

1st Edition

Authors: Geoff Black, Mahmoud Al-Kilani

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Question Posted: Jul 02, 2024 09:02 AM

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Assume that Gilbert and Bufton (see Activity 6.1) started the year with capital account balances of 25,900

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Accounting And Finance For Business

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