Question 27 2.5 points The Tim-Tam-Tom partnership has the following capital balances and profit and...
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Question 27 2.5 points The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) Tam (20%) Tom (50%) Te invests $220,000 in cash, paid to the partnership for a 20% ownership stake. Using the Good 100,000 150,000 200,000 method what are the good illa ito be recognized a TIm scap a ba an respective 650,000; 220,000; o 650,000:295,000; O 430,000; 229,000; o 430,000:295,000; None of the answers is correct Question 29 The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) Tam (20%) Tom (50%) Tem invests $250,000 in cash, paid to the original partners, for a 20% ownership stake. Using the bonus method, after the transaction what is Tom's capital balance? 100,000 150,000 200,000 O 180,000 O 250,000 0 255,000 280,000 O None of the answers is correct
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