Harry, Tony, and Liza run a partnership firm and share in the profits 1:32, respectively. In...
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Harry, Tony, and Liza run a partnership firm and share in the profits 1:32, respectively. In the process of liquidation, the partnership sells non-cash assets, having a book value of $82,000, for $92,000. What would be the amount credited to Harry's capital account from his share of the gain on sale of assets? (Do not round intermediary calculations and round the final answer to the nearest whole dollar.) Harry, Tony, and Liza run a partnership firm and share in the profits 1:32, respectively. In the process of liquidation, the partnership sells non-cash assets, having a book value of $82,000, for $92,000. What would be the amount credited to Harry's capital account from his share of the gain on sale of assets? (Do not round intermediary calculations and round the final answer to the nearest whole dollar.)
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Harry s Capital Account Total gain on sale of assets ... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
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