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Hi. I need help with this one. thank you B. The ABC Partnership has the following information when B, a partner became incapacitated: B Exercise
Hi. I need help with this one. thank you
B. The ABC Partnership has the following information when B, a partner became incapacitated: B Exercise No. 2 Capital interest of the disassociating partner: Profit and loss sharing ratio is based on capital contribution Actual capital or investment to the business before disassociation Withdrawals or drawings Share in the net loss as of date of disassociation Loans to the partnership Sold to partners Sold to outsider Sold to partnership 50,000 10,000 1,000 2,000 100,000 20,000 2,000 4,000 100,000 100,000 100,000 150,000 30,000 3,000 6,000 3. Show the computation of capital interest as of date of disassociation a. Compute for the capital interest of A b. Compute for the capital interest of B C. Compute for the capital interest of C 4. Compute for the asset revaluation a. If B's agent sells his share to an outsider b. If B's agent sells his share to B and C, B paid for the 30% and C the remaining 70%. C. If B's agent sells his share to ABC PartnershipStep by Step Solution
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