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ACC - Adam Alvin is admitted to a partnership

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Question;Adam Alvin is admitted to a partnership. Prior to his;admission, the partnership books show Sean Theodore's capital balance at;$80,000 and Kelly Simon's capital balance at $48,000. Compute each partner's;equity on the books of the new partnership under the following plans:A. Alvin pays $72,000 for Simon's equity. Alvin's payment;goes directly to SimonB. Alvin invests $32,000 to acquire a 1/5 share in the partnership;C. Alvin invests $52,000 to acquire a 1/5 share in the partnership="msonormal">

 

Paper#40514 | Written in 18-Jul-2015

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