Question
A and B are partners who share income in the ratio of 2:1 and who have capital balances of $65000 and $35000 respectively. If a
A and B are partners who share income in the ratio of 2:1 and who have capital balances of $65000 and $35000 respectively. If a new partner with the consent of B acquired one halve of A interest of $40000 for what mount would new partner capital account be credited?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
