Answered: Questions: 10. What is the capital of…

Questions: 10. What is the capital of Aika after admitting Princessita? 11. What is the capital of Nicole after admitting Princessita? 12. What is the capital of Princessita after her admission?

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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Question

Partnership Dissolution: Problem 3
Aika and Nicole's capital is 600,000 and 480,000,
respectively. Profit Share Ratio 7:3. Princessita directly
purchased a 1/3 interest by paying Aika 195,000 and
Nicole 225,000. The land account is increased by
180,000 before Princessita is accepted.
Questions:
10. What is the capital of Aika after admitting
Princessita?
11. What is the capital of Nicole after admitting
Princessita?
12. What is the capital
Princessita after her
admission?
10. What is the capital of Aika
after admitting Princessita?
Your answer
11. What is the capital of Nicole
after admitting Princessita?
Your answer
12. What is the capital of
Princessita after her admission?

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