Question
At Dec, 31, 2020, the capital statement showed: A B Beg. Capital $ 100,000 80,000 Investments 30,000 40,000 Withdrawals 10,000 20,000 The partners agreed to
At Dec, 31, 2020, the capital statement showed:
A B
Beg. Capital $ 100,000 80,000
Investments 30,000 40,000
Withdrawals 10,000 20,000
The partners agreed to admit X as a new partner, and X invested $120,000 cash to get one- third of capital
Required;
1- Record the entry of admission , income ratio equally
2- Prepare the balance sheet after admissions
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Conservation Easement Audit Techniques Guide
Authors: U.S. Internal Revenue Service
1st Edition
0359516998, 978-0359516995
