Iliana and Ilias commenced a partnership on 1 January 2009, each contributing capital of 25,000, and agreed
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Iliana and Ilias commenced a partnership on 1 January 2009, each contributing capital of €25,000, and agreed to share profits equally. The partnership’s net profit is €9,000 for the period to 30 June 2009 and on that date they are joined in partnership by Iliadae who contributes capital of €30,000. At that time goodwill was valued at €15,000, and the three partners agree to share profits equally.
They do not wish to retain goodwill in the partnership’s accounts.
What is the balance on Iliadae’s capital account at 1 July 2009?
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Related Book For 
Financial Accounting A Practical Introduction
ISBN: 9780273714293
1st Edition
Authors: Ilias Basioudis
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