A local dental partnership has been liquidated and the final capital balances are Atkinson, capital (40% of all profits and losses) $ 74,000 Kaporale, capital (30%) 34,000 Dennsmore, capital (20%) (44,000 ) Rasputin, capital (10%) (64,000 ) If Rasputin contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners?
A local dental partnership has been liquidated and the final capital balances are Atkinson, capital (40% of all profits and losses) $ 74,000 Kaporale, capital (30%) 34,000 Dennsmore, capital (20%) (44,000 ) Rasputin, capital (10%) (64,000 ) If Rasputin contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners?
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 33P
Related questions
Question
A local dental
| Atkinson, capital (40% of all |
$ | 74,000 | |
| Kaporale, capital (30%) | 34,000 | ||
| Dennsmore, capital (20%) | (44,000 | ) | |
| Rasputin, capital (10%) | (64,000 | ) | |
If Rasputin contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners?
Transcribed Image Text:A local dental partnership has been liquidated and the final capital balances are
$ 74,000
Atkinson, capital (40% of all profits and losses)
Kaporale, capital (30%)
Dennsmore, capital (20%)
Rasputin, capital (10%)
34,000
(44,000)
(64,000)
If Rasputin contributes cash of $24,000 to the partnership, how would this amount be distributed to the other partners? (Round your
intermediate calculations to the nearest whole dollar.)
X Answer is complete but not entirely correct.
Atkinson
Kaporale
Dennsmore
Rasputin
Cash distribution
16,444 X S 7,556 X $
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