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Chapter 12 - Accounting for Partnerships
SOLUTION: ALTERNATE DEMONSTRATION PROBLEM
CHAPTER 12
1. Proceeds from sale $85,000
2. Sands Mell Rand
Capital account balance prior to
distribution of loss on sale of
assets
$1,200 $11,700 $15,100
3. Sands Mell Rand
Capital account balance after
distribution of loss on sale of
assets $ (900) $3,300 $4,600
12-1
