Both Sal Assissi and Cal Carter have capital of ($ 75,000) in their business. They share profits
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Both Sal Assissi and Cal Carter have capital of \(\$ 75,000\) in their business. They share profits in the ratio of 55:45. Kathy Denman acquires a one-fifth share in the partnership by investing cash of \(\$ 50,000\). What are the capital balances of the three partners immediately after Denman is admitted?
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Related Book For
Financial Accounting
ISBN: 9780133118209
2nd Edition
Authors: Charles T. Horngren, Jr. Harrison, Walter T.
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