Homework Answers
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Net income = Revenues - Expenses. = 273,000 - 306,000 = - 33,000 loss Doug's share in loss = (-33,000*2/6) = - 11,000 Cash recieved by Doug upon withdrawal = 25,600 - 11,000 loss = 14,600 Option D is the answer |
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Teri, Doug, and Brian are partners with capital balances of $37,100, $25,600, and $55,400, respectively. They...
Tucker and Titus are partners who share income in the ratio of 3:1. Their capital balances...
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Admitting New Partner Brian Caldwell and Adriana Estrada have operated a successful firm for many years,...
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1. C and D had capital balances of $60,000 and $120,000 respectively on January 1 of...
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Tucker and Titus are partners who share income in the ratio of 3:1. Their capital balances are $32,700 and $61,900, respectively. The partnership generated net income of $41,800 for the year. What is Tucker's capital balance after closing the revenue and expense accounts to the capital accounts? Oa. $76,860 Ob. $38,430 Oc. $51,240 Od. $64,050
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Tomas and Saturn are partners who share income in the ratio of 3:1. Their capital balances are $93,900 and $39,100, respectively, The partnership generated net income of $45,500. What is Tomas's capital balance after dosing the revenue and expense accounts to the capital accounts? O a. $122,861 b. $133,567 ОС. $142,921 Od. $128,025
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