Question
Palmer has 89000 capital and Babel has 43000 capital in the Palmer and Heino partnership Palmer and Hino share profits and loses equally Todd Parker
Palmer has 89000 capital and Babel has 43000 capital in the Palmer and Heino partnership Palmer and Hino share profits and loses equally Todd Parker contribute cost of 44,000 to a quired a 1/4 interest in the new partnership
1. calculate parkers capital in the new partnership
2. journalize the partnership received after 44,000 from Parker
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Management and Cost Accounting
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
6th edition
1292063467, 978-1292063461
