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On December 31st, a partnership's capital statement reported the following information: Capital, January 1 Additional Investment Drawings Net Income $324,000 $56,000 $116,000 $184,000 The
On December 31st, a partnership's capital statement reported the following information: Capital, January 1 Additional Investment Drawings Net Income $324,000 $56,000 $116,000 $184,000 The partnership consists of Partners A, B and C with ending capital balances based on a ratio of 5:2:3. All additional investments and drawings are done at this same ratio. What are the respective ending balances of the three partners?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
