In the AD partnership,Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio,respectively.They decide to admit David to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.Allen and Daniel agree that some of the inventory is obsolete.The inventory account is decreased before David is admitted.David invests $40,000 for a one-fifth interest.What are the capital balances of Allen and Daniel after David is admitted into the partnership?
Definitions:
Productivity
The efficiency of industrious output regarding how output per input unit is measured, particularly in business sectors.
Job Setting
A job setting refers to the environment or workplace where an individual performs their occupational tasks, including physical space, cultural context, and organizational structure.
Personality Trait
Enduring characteristics that describe an individual's usual patterns of behavior, thoughts, and feelings.
Durable Disposition
A lasting personality trait or characteristic that remains consistent over time and across situations.
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