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Category > Business & Finance Posted 12 Jun 2017 My Price 7.00

Nelson, Parker, and Rice are partners who share profits

Nelson, Parker, and Rice are partners who share profits 4:3:3, respectively. Parker decides that it would be more profitable for him to operate as a sole proprietor. Nelson and Rice are in agreement that life would be more rewarding if Parker were to enter into direct competition with them. Nelson and Rice make repeated attempts to acquire Parker’s interest in the partnership. Unable to reach an agreement, the partners mutually agree that their association should be dissolved. A condensed balance sheet before realization of assets shows the following balances:

 

 

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Alpha Geek
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Status NEW Posted 12 Jun 2017 07:06 AM My Price 7.00

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1497252313-594839_1_partnership-realization-and-liquidationdocx
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