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Lester
Lester
In the photo is a picture of the separate sole proprietorship of lester and daryl they decided to
form a partnership with theses terms machinery and equipment of lester is under depreciated
by 1500 and that daryl of by 4,500, allowance for doubltful account of 12,000 for lester and
4,500 for daryl what would be the total contributed capital of Lester?
Year 1
AR 54,000 22,500
Inventory 20,250
3. Under the partnership agreement lester wants to have a 50:50 profit and loss ratio with daryl
and wants his capital balance to be the same as his profit and loss ratio to achieve this he
would withdraw or contribute a sum of money how much cash should lester contribute