Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The respetive answers are Bodkins capital balance = $ 3 7 5 , 0 0 0 , and Calkins = 2 7 5 , 0

image text in transcribed
The respetive answers are Bodkins capital balance = $375,000, and Calkins =275,000. The revaluation profit for Atkins is 45000, Bodkins is 67,500, and Calkins is 112,500.** I need help with amount paid to Atkins. I am doing (145,000-125,000)*30% and 50% for bodkins and calkins and i am getting 6,000 and 10,000. the answers are supposed to be 7,500 and 12,500. how do i get these answers so i can get to 375,000 and 275,000.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

7th Canadian Edition Volume 2

1119048478, 978-1119048473

More Books

Students also viewed these Accounting questions