Question
In the partnership of Maxwell and Slade, Maxwell's capital balance is $40,000 and Slade's capital balance are $60,000. Maxwell sold 25% of his partnership interest
In the partnership of Maxwell and Slade, Maxwell's capital balance is $40,000 and Slade's capital balance are $60,000. Maxwell sold 25% of his partnership interest to Norton, who paid $24,000 for the 50% interest. What would be the amount credited to Nortons Capital?
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
14th Edition
0324374178, 978-0324374179
