What is pia''s capital balance
Pia and Ramona are partners who share income in the ratio of 3:2. Their capital balances are $80,000 and $120,000 respectively. Income Summary has a credit balance of $40,000. What is Pia's capital balance after closing Income Summary to Capital?
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After all noncash assets are sold and all liabilities are paid, there is a cash balance of $50,000. What amount of loss on realization should be allocated to Alpha?
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