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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Advanced Accounting

ISBN: 9781260247824

14th Edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

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