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Also explain how you got the numbers please! ! Required information [The following information applies to the questions displayed below.] The Field, Brown & Snow
Also explain how you got the numbers please!
! Required information [The following information applies to the questions displayed below.] The Field, Brown & Snow are partners and share income and losses equality. The partner decide to liquidate the partnership when their capital balances are as follows: Field, $130,300; Brown, $167,800; and Snow, $154,400. On May 31, the liquidation resulted in a loss of $405,900. 1. Compute the capital account balance of each partner after the loss from liquidation is allocated. (Losses and negative capital balances, if any, should be entered with a minus sign.) Field Brown Snow Total Initial investments Loss allocation Capital balancesStep by Step Solution
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