B. The ABC Partnership has the following information when B, a partner became incapacitated: Exercise No....
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B. The ABC Partnership has the following information when B, a partner became incapacitated: Exercise No. 2 Capital interest of the disassociating partner: Profit and loss sharing ratio is based on capital contribution Actual capital or investment to the business before disassociation Withdrawals or drawings Share in the net loss as of date of disassociation Loans to the partnership Sold to partners Sold to outsider Sold to partnership A 4. Compute for the asset revaluation 50,000 10,000 1,000 2,000 3. Show the computation of capital interest as of date of disassociation a. Compute for the capital interest of A b. Compute for the capital interest of B c. Compute for the capital interest of C B 100,000 20,000 2,000 4,000 100,000 100,000 100,000 a. If B's agent sells his share to an outsider b. If B 's agent sells his share to B and C, B paid for the 30% and C the remaining 70%. c. If B's agent sells his share to ABC Partnership C 150,000 30,000 3,000 6,000 B. The ABC Partnership has the following information when B, a partner became incapacitated: Exercise No. 2 Capital interest of the disassociating partner: Profit and loss sharing ratio is based on capital contribution Actual capital or investment to the business before disassociation Withdrawals or drawings Share in the net loss as of date of disassociation Loans to the partnership Sold to partners Sold to outsider Sold to partnership A 4. Compute for the asset revaluation 50,000 10,000 1,000 2,000 3. Show the computation of capital interest as of date of disassociation a. Compute for the capital interest of A b. Compute for the capital interest of B c. Compute for the capital interest of C B 100,000 20,000 2,000 4,000 100,000 100,000 100,000 a. If B's agent sells his share to an outsider b. If B 's agent sells his share to B and C, B paid for the 30% and C the remaining 70%. c. If B's agent sells his share to ABC Partnership C 150,000 30,000 3,000 6,000
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ANSWER a Computation of capital interest of A B and C as of date of disassociation Partner A Capital ... View the full answer
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Posted Date:
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