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Discuss dann should invest cash or other assets of

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The following balance sheet information is for the partnership of Abele, Boule, and Cayman:

Cash

mce_markernbsp; 210,000

Liabilities

mce_markernbsp;  510,000

Other assets

1,500,000

Abele, Capital (40%)

300,000

 

 

Boule, Capital (40%)   

480,000

 

 

Cayman, Capital (20%)

420,000

 

$1,710,000

 

$1,710,000

Figures shown parenthetically reflect agreed profit and loss sharing percentages.

If the assets are fairly valued on the above balance sheet and the partnership wishes to admit Dann as a new 1/5 partner without recording goodwill or bonus, Dann should invest cash or other assets of

Reference no: EM131760596

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