please help explain where my 475 is coming from? ...
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please help explain where my 475 is coming from?
The ABCD Partnership has the following balance sheet at January 1, 2012, prior to the admission of new partner, Eden. 3. Cash and eurrent assets S 39,000 Liabilitics Land s 52,000 26,000 52,000 117,000 156,000 S 403,000 234,000 Adams, oapital Building and equipment 130,000 Bames, oapital Cordas, capital Davis, oapital Total 403,000 Total 20, 000 Eden contributed $124,000 n cash to the businessto 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? U20, 000 175,000 15,00 AdnsD 75,000
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