Kim Locke and Mary Leigh Coker have capital accounts of $430,000 and $484,000, respectively. Jeff Doggett and Danny Cambrey are to join the partnership. Doggett invests $515,000 in the partnership for which he receives a capital credit of $515,000. Cambrey purchases a one-half interest from Locke for $315,000 and a one-fourth interest from Coker for $94,000.   Determine the capital balances of the partners after the admission of Doggett and Cambrey.     Capital balances Locke   $enter a dollar amount  Coker   enter a dollar amount Doggett   enter a dollar amount Cambrey   enter a dollar amount    Total Capital   $enter a total amount

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Kim Locke and Mary Leigh Coker have capital accounts of $430,000 and $484,000, respectively. Jeff Doggett and Danny Cambrey are to join the partnership. Doggett invests $515,000 in the partnership for which he receives a capital credit of $515,000. Cambrey purchases a one-half interest from Locke for $315,000 and a one-fourth interest from Coker for $94,000.

 

Determine the capital balances of the partners after the admission of Doggett and Cambrey.

   
Capital balances
Locke
 
$enter a dollar amount 
Coker
 
enter a dollar amount
Doggett
 
enter a dollar amount
Cambrey
 
enter a dollar amount
   Total Capital
 
$enter a total amount 
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