If the assets are fairly valued on this balance sheet and the partnership wishes to admit Denise

Question:

If the assets are fairly valued on this balance sheet and the partnership wishes to admit Denise as a new one-sixth-interest partner without recording goodwill or bonus, Denise should contribute cash or other assets of

a. $40,000.

b. $36,000.

c. $33,333.

d. $30,000.

The following balance sheet is for the partnership of Alex, Betty, and Claire.

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Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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Question Posted: Mar 14, 2024 12:00 AM

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If the assets are fairly valued on this balance sheet and the partnership wishes to admit Denise

Question:

Cash Other Assets $ 20,000 180,000 Liabilities Alex, Capital (40%) Betty, Capital (40%) $200,000 $ 50,000 37,000 65,000 Claire, Capital (20% ) 48,000 Total Liabilities & Capital $200,000

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Advanced Financial Accounting

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