Accounting?? PART III �� ADMISSION/WITHDRAWAL OF PARTNERS (12 points) 1. Linda and Sara are partners

PART III �� ADMISSION/WITHDRAWAL OF PARTNERS (12 points)
1. Linda and Sara are partners who share profits 60% and 40%. Their funds balances be both $180,000 before Kim be admitted to the partnership. Kim salaried $100,000 each to Linda and Sara for purchase of a 25% interest within the partnership. After her admission to the partnership,

Kim will enjoy a capital go together of $____________.

2. Joe and Kathy are partners who share profits 60% and 40%. Their funds balances be both $75,000 before Alice be admitted to the partnership. Alice contributed $125,000 contained by cash to the partnership for a 30% interest. After Alice is admit to the partnership,

Joe will have a income balance of $____________.

3. Terry and Joe are partner who share profits 40% and 60%. Before Mike was admit to the partnership, Terry's and Joe's capital balance were $510,000 and $360,000, respectively. Mike contributed $570,000 contained by cash to the partnership for a one-half interest. After Mike is admit to the partnership,

Joe will have a income balance of $____________.

4. Dan, Gary, and Sam are partner who share profits 50%, 25%, and 25%. Their capital balance were $195,000, $130,000, and $75,000, respectively, beforehand Sam's retirement. Dan and Gary each compensated Sam $50,000 from their personal assets to buy half his interest. After Sam have withdrawn,

Dan will have a funds balance of $____________.

5. Nick, Andy, and Tom are partner who share profits 30%, 30%, and 40%. Their capital balance were $840,000, $560,000, and $280,000, respectively, earlier Tom's retirement. Tom was compensated $440,000 from partnership assets to buy his interest. After Tom has withdrawn,

Nick will enjoy a capital go together of $____________.

6. Donna, Lisa, and Tina are partners who share profits 40%, 20%, and 40%. Their property balances be $210,000, $90,000, and $60,000, respectively, before Tina��s retirement. Tina be paid $42,000 from partnership assets to buy her interest. After Tina have withdrawn,

Donna will have a income balance of $____________.

Answers: I know the answers, but contained by all fairness, it would not benefit you to provide them, this is call education. Long ago, we didn't enjoy the Internet or software to compute accounting problems, we had to numeral them out with a calculator.

I am not demeaning you, but you would be far better past its sell-by date to learn this on your own.

But rest assured, someone will want to flaunt their school ability and supply you the answers.

Good luck
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