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The ABCD Partnership Has the Following Balance Sheet at January

question 55

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The ABCD Partnership has the following balance sheet at January 1, 2012, prior to the admission of new partner, Eden. The ABCD Partnership has the following balance sheet at January 1, 2012, prior to the admission of new partner, Eden.    Eden contributed $124,000 in cash to the business to receive a 20% interest in the partnership. Goodwill was to be recorded. The four original partners shared all profits and losses equally. After Eden made his investment, what were the individual capital balances?
Eden contributed $124,000 in cash to the business to receive a 20% interest in the partnership. Goodwill was to be recorded. The four original partners shared all profits and losses equally. After Eden made his investment, what were the individual capital balances?


Definitions:

Net Migration Rate

The difference between the number of immigrants and the number of emigrants throughout the year, per 1,000 inhabitants in a given country.

Emigrants

Individuals who leave their own country to settle permanently in another.

Immigrants

Individuals who move from one country to another with the intention of settling permanently or temporarily in the new country.

Neo-Malthusian

Relating to the belief in population control through the use of contraception and family planning, updating Thomas Malthus's predictions about population growth and sustainability.

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