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Tom paid $50,000 to Dick for 60% of Dicks interest in the DH Partnership. At that time, Dicks capital balance was $90,000. The entry to
Tom paid $50,000 to Dick for 60% of Dicks interest in the DH Partnership. At that time, Dicks capital balance was $90,000. The entry to record Toms admission to the partnership would include
a debit to Dicks capital account for $50,000.
a credit to Dicks capital account for $54,000.
a credit to Dicks capital account for $50,000.
a debit to Dicks capital account for $54,000.
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Internal Auditing Theory A Systems View
Authors: Hugh Marsh, G A Swanson
1st Edition
089930608X, 978-0899306087
