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GW Method The partnership of Amos, Cole, and Eddy had total capital of $570,000 on December 31, 2011 as follows: $100,000 for 25% Amos, Capital
GW Method The partnership of Amos, Cole, and Eddy had total capital of $570,000 on December 31, 2011 as follows: $100,000 for 25% Amos, Capital (30%) Cole, Capital (45%) Eddy, Capital (25%) Total $180,000 255,000 135.000 $570,000 Profit and loss sharing percentages are shown in parentheses. Assume that Flynn became a partner by investing $100,000 in the Amos, Cole, and Eddy partnership for a 25 percent interest in the capital and profits, and the partnership assets are revalued. Under this assumption a. Flynn's capital credit will be $150,000. b. Amos's capital will be increased to $147,000. C. total partnership capital after Flynn's admission to the partnership will be $600,000. d. net assets of the partnership will increase by $190,000, including Flynn's interest
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