Question
Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively.
Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively. Anne retires and is paid $80,000 based on an independent appraisal of the business. If the goodwill method is used, what is the capital of the remaining partners?
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Audit Of Assumptions For The 2009 Pre Budget Report Report By The Comptroller And Auditor General, Session 2009-2010 Hc 83
Authors: National Audit Office
1st Edition
0102963371, 978-0102963373
