Question

Your roommate argues that partnership assets should be revalued in situations like those in Question 21.
In Question 21, Jaime Keller has a $41,000 capital balance in a partnership. She sells her interest to Sam Parmenter for $45,000 cash. What entry is made by the partnership for this transaction?

Why is this generally not done?



$1.99
Sales0
Views177
Comments0
  • CreatedJanuary 30, 2014
  • Files Included
Post your question
5000