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Kevin and Laura are partners in a law firm. Kevin's initial investment was 400,000, and Laura's was 300,000. They made additional investments of 50,000 and
- Kevin and Laura are partners in a law firm. Kevin's initial investment was ₹400,000, and Laura's was ₹300,000. They made additional investments of ₹50,000 and ₹60,000, respectively. The firm suffered a net loss of ₹25,000, which is to be shared based on their original capital contributions. Compute their ending capital balances.
Partner | Initial Capital | Additional Investment | Net Loss Share | Ending Capital |
Kevin | ₹400,000 | ₹50,000 | ? | ? |
Laura | ₹300,000 | ₹60,000 | ? | ? |
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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
11th edition
1259535312, 978-1259535314
