Z Has Bought B's Interest in the A&B Partnership for a $60,000

question 105

Short Answer

Z has bought B's interest in the A&B Partnership for a $60,000 direct payment to B. The capital balances before the sale were $24,000 and $36,000, respectively. The entry to record the purchase of interest in partnership is:

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Definitions:

Metric

A quantitative measure used to assess performance, progress, or quality of a product, process, or service.

Measure

The process of quantitatively assessing performance, characteristics, or quality of products, services, or processes, typically by using specific tools and metrics.

Supply Chain Financial Impact

The effect that supply chain operations and efficiency have on the financial health and profitability of a company.