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Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
Edition 12ISBN: 978-0077862220Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
Edition 12ISBN: 978-0077862220 Exercise 39
At year-end, the Circle City partnership has the following capital balances:
Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $90,000 from the business based on the original contractual agreement.
Using the goodwill method, what is Manning's capital balance after Clark withdraws
a. $133,000,
b. $137,500.
c. $140,000.
d. $145,000.
Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $90,000 from the business based on the original contractual agreement.
Using the goodwill method, what is Manning's capital balance after Clark withdraws
a. $133,000,
b. $137,500.
c. $140,000.
d. $145,000.
Explanation
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This problem requires knowledge of ratio...
Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik
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