Business, 11.09.2019 03:30 hooplikeapro
In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share income in a 3: 1 ratio, respectively. they decide to admit david to the partnership. each of the following questions is independent of the others.
refer to the information provided above. allen and daniel agree that some of the inventory is obsolete. the inventory account is decreased before david is admitted. david invests $40,000 for a one-fifth interest. what is the amount of inventory written down?
a. $4,000
b. $20,000
c. $15,000
d. $10,000
Answers: 3
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In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share income in...
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