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Capital balances of Chris, Oscar and Tim in the COT partnership are $120,000, $100,000 and $80,000 respectively. The profit and loss ratio is 5:3:2.
Capital balances of Chris, Oscar and Tim in the COT partnership are $120,000, $100,000 and $80,000 respectively. The profit and loss ratio is 5:3:2. The SCOT partnership is formed by admitting Susan to the firm with a cash investment of $120,000 for a 25% interest. After the admission of Susan as the partner, SCOT partnership reports: Net assets: Choose... + Susan, capital: Choose...+ Oscar, capital: Choose... : Chris, capital: Choose... + Tim, capital: Choose... +
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
3rd edition
9780077506902, 78025540, 77506901, 978-0078025549
