a Althe above are GAA retires? Partners Ang and Lee share net income or losses in a 2750 or ae ty in the partnership" the bonus method is used. Arus capital b. $18,000 ratio and have capital balances of $18,000 and $17,000 respectively balance c. $19,500 $15,000 e. $25,000 Use the following to answer questions The Statement of Financial Position of the XY partnership on December 31, 201, appear Cash Other Assets lo s below. $ 60,000 Liabilities 200,000 X, Capital Y, Capital 60,000 90,000 0,000 Total Assets x and Y share profits and losses in the ratio 60:40. Each of the following $260,000 Total Liabilities and Capital $260.000 questions is independent of the others. Refer to the above information Assume that Z invests $80,000 cash into the XY partnership for a one-fth interest in partnership capital the total firm capital of the XYZ partnership is $280,000. What is the capital balance of X after Z is admitted into the partnership? A) B) C) D) E) $119,600 $112,000 $110,000 $100,400 $104 400 Refer to the above information. Assume that Z purchases a one-fourth proportionate capital interest directly from Xand Y for a $60,000. What is Z's capital balance of X and Y when admitted into the partnership? a) $40,000 b) $50,000 c) $60,000 d) $70,000 In a partnership liquidation, ifa partner with a capital deficit is persona if a partner with a capital deficit is personally insolvent, the remaining partners make cash contributions in accordance with the a balances of partners' capital accounts b. ratio of original investments by partners c. ratio of original investments less withdrawals by partners d. none of the above a Althe above are GAA retires? Partners Ang and Lee share net income or losses in a 2750 or ae ty in the partnership" the bonus method is used. Arus capital b. $18,000 ratio and have capital balances of $18,000 and $17,000 respectively balance c. $19,500 $15,000 e. $25,000 Use the following to answer questions The Statement of Financial Position of the XY partnership on December 31, 201, appear Cash Other Assets lo s below. $ 60,000 Liabilities 200,000 X, Capital Y, Capital 60,000 90,000 0,000 Total Assets x and Y share profits and losses in the ratio 60:40. Each of the following $260,000 Total Liabilities and Capital $260.000 questions is independent of the others. Refer to the above information Assume that Z invests $80,000 cash into the XY partnership for a one-fth interest in partnership capital the total firm capital of the XYZ partnership is $280,000. What is the capital balance of X after Z is admitted into the partnership? A) B) C) D) E) $119,600 $112,000 $110,000 $100,400 $104 400 Refer to the above information. Assume that Z purchases a one-fourth proportionate capital interest directly from Xand Y for a $60,000. What is Z's capital balance of X and Y when admitted into the partnership? a) $40,000 b) $50,000 c) $60,000 d) $70,000 In a partnership liquidation, ifa partner with a capital deficit is persona if a partner with a capital deficit is personally insolvent, the remaining partners make cash contributions in accordance with the a balances of partners' capital accounts b. ratio of original investments by partners c. ratio of original investments less withdrawals by partners d. none of the above
