B. The ABC Partnership has the following information when B, a partnerbecame incapacitated:Exercise No. 2Capital interest of the disassociating partner:Profit and loss sharing ratio is based on capital contributionActual capital or investment to the business before disassociationWithdrawals or drawingsShare in the net loss as of date of disassociationLoans to the partnershipSold to partnersSold to outsiderSold to partnershipBC50,000100,000150,00030,0003,0006,00010,00020,0001,0002,0004,000100,0002,000100,000100,0003. Show the computation of capital interest as of date of disassociationa. Compute for the capital interest of Ab. Compute for the capital interest of Bc. Compute for the capital interest of C4. Compute for the asset revaluationa. If B's agent sells his share to an outsiderb. If B 's agent sells his share to B and C, B paid for the 30% and Cthe remaining 70%.C. If B's agent sells his share to ABC Partnership

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B. The ABC Partnership has the following information when B, a partner became incapacitated: Exercise No. 2 Capital interest of the disassociating partner: Profit and loss sharing ratio is based on capital contribution Actual capital or investment to the business before disassociation Withdrawals or drawings Share in the net loss as of date of disassociation Loans to the partnership Sold to partners Sold to outsider Sold to partnership B 50,000 100,000 150,000 30,000 3,000 6,000 10,000 20,000 1,000 2,000 2,000 4,000 100,000 100,000 100,000 3. Show the computation of capital interest as of date of disassociation a. Compute for the capital interest of A b. Compute for the capital interest of B c. Compute for the capital interest of C

B. The ABC Partnership has the following information when B, a partner became incapacitated: Exercise No. 2 Capital interest of the disassociating partner: Profit and loss sharing ratio is based on capital contribution Actual capital or investment to the business before disassociation Withdrawals or drawings Share in the net loss as of date of disassociation Loans to the partnership Sold to partners Sold to outsider Sold to partnership B 50,000 100,000 150,000 30,000 3,000 6,000 10,000 20,000 1,000 2,000 2,000 4,000 100,000 100,000 100,000 3. Show the computation of capital interest as of date of disassociation a. Compute for the capital interest of A b. Compute for the capital interest of B c. Compute for the capital interest of C

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the answer on questions 1 and 2?
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