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Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
Edition 10ISBN: 978-1260575910 Exercise 36
The capital balance for Bolcar is $110,000 and for Neary is $40,000.These two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary).Kansas invests $50,000 in cash into the partnership for a 30 percent ownership.The bonus method will be used.What is Neary's capital balance after Kansas's investment
a.$35,000.
b.$37,000.
c.$40,000.
d.$43,000.
a.$35,000.
b.$37,000.
c.$40,000.
d.$43,000.
Explanation
Verified
Verified
Answer: Option b).$37,000
Neary's capita...
Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik
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