Explain the ortons capital balance after admitting ramsey, Accounting Basics

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Explain the ortons capital balance after admitting ramsey

Benson and orton are partners who share income in the ratio of 1:3 and have capital balances of 70,000 and 30,000 respectively. ramsey is admitted to the partnership and is given a 40% interest by investing 20,000. What is orton's capital balance after admitting ramsey?

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Accounting Basics: Explain the ortons capital balance after admitting ramsey

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Request for Solution File

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Accounting Basics: Explain the ortons capital balance after admitting ramsey

Reference No:- TGS0707093

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Describe the line of credit liability account

Q : Estimated the number of copies

Q : Disadvantage of re-working the computers

Q : What would be an appropriate cost driver

Q : Explain the ortons capital balance after admitting ramsey

Q : Calculate the required sales to meet the target net income

Q : Discuss a condensed cost of goods manufactured schedule f

Q : Calculate the activity measures for the year ended december

Q : Analyzing the financial benefit from quality programs

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Explain the ortons capital balance after admitting ramsey

Reference No:- TGS0707093

Recent Questions Asked Accounting Basics

Q : Describe the line of credit liability account

Q : Estimated the number of copies

Q : Disadvantage of re-working the computers

Q : What would be an appropriate cost driver

Q : Explain the ortons capital balance after admitting ramsey

Q : Calculate the required sales to meet the target net income

Q : Discuss a condensed cost of goods manufactured schedule f

Q : Calculate the activity measures for the year ended december

Q : Analyzing the financial benefit from quality programs

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