The statement of members' equity for Aztec Mines, LLC, is shown at the top of the following
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The statement of members' equity for Aztec Mines, LLC, is shown at the top of the following page.
a. What was the income-sharing ratio in 2007?
b. What was the income-sharing ratio in 2008?
c. How much cash did Cleveland Porter contribute to Aztec Mines, LLC, for his interest?
d. Why do the member equity accounts of Utah Properties, LLC, and Aztec Holdings, Ltd., have positive entries for Cleveland Porter's contribution?
e. What percentage interest of Aztec Mines did Cleveland Porteracquire?
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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