Teri doug and brian are partners with capital balances of, Ask an Expert

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Teri, Doug, and Brian are partners with capital balances of $20,000, $30,000, and $50,000 respectively. They share income in the ratio of 3:2:1. Income Summary with a debit balance of $30,000 is closed to the capital accounts. Doug withdraws from the partnership. How much cash does he get upon withdrawal?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M971414

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