Avery and Bert Are Partners Who Share Profits and Losses

question 36

Short Answer

Avery and Bert are partners who share profits and losses in a ratio of 2:1 and have capital balances of $75,000 and $150,000, respectively. The partners agree to admit Carmen to the partnership. Carmen invests $75,000 for a 35 percent interest in the partnership. The new total capital balance after admitting Carmen is $300,000. The entry to record the admission of Carmen to the partnership is:

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Definitions:

Media Portray

involves the representation or depiction of events, people, or societies within various forms of media, often reflecting or shaping public perceptions.

Consolidating Injustices

The process or trend where injustices, particularly those related to sociopolitical or economic issues, become more entrenched or exacerbated in society.

Gendered Institution

A concept referring to how gender roles and expectations are embedded in the social structures, policies, and practices of institutions, affecting individuals' roles and opportunities.

Cultural Dominance

The predominance of one culture over others, often leading to the subjugation or marginalization of minority cultures within a society.