A local dental partnership has been liquidated and the final capital balances are Atkinson, capital (40% of
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A local dental partnership has been liquidated and the final capital balances are
Atkinson, capital (40% of all profits and losses) . . . . . . . . . . . . . . $ 70,000
Kaporale, capital (30%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000
Dennsmore, capital (20%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (42,000)
Rasputin, capital (10%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (58,000)
If Rasputin contributes cash of $20,000 to the partnership, how would this amount be distributed to the other partners?
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Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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