Problem 1514 LO 153 A local dental partnership ha s been liq

Problem 15-14 (LO 15-3) A local dental partnership ha s been liquidated and the final capital balances are as follows: Atkinson, capital (40% of all profits losses) Kapor ale, capital (30%) Dennsmore, capital (20%) Rasputin, capital (10%) and $ 76,000 36,000 (49,000) (63,000) If Rasputin contributes additional cash of $21,000 calculations.) to the partnership, what should happen to it? (Do not round intermediate Atkinson Kaporale Dennsmore Rasputin Cash distribution 1 of 1 ll to search Oo

Solution

Atkinson Kaporale Dennsmore Rasputin Given balances 76000 36000 -49000 -63000 Cash contributed 21000 Balances 76000 36000 -49000 -42000 Deficiency allocated in the ratio 40%:30% -52000 -39000 0 0 Adjusted balances 24000 -3000 -49000 -42000 Cash distribution 21000 0 0 0