Eden contributed 30000 in cash to the business to receive a

Reference no: EM13576669

The ABCD Partnership has the following balance sheet at January 1, 2013, prior to the admission of new partner, Eden.

Cash and current assets	$ 39,000	Liabilities	$ 52,000
Land	40,000	Adams, Capital	26,000
Building and equipment	89,000	Barnes, Capital	32,000
		Cordas, Capital	17,000
		Davis, Capital	41,000
Total	$168,000	Total	$168,000

Eden contributed $30,000 in cash to the business to receive a 20% interest in the partnership. Goodwill was to be recorded. The four original partners shared all profits and losses equally. After Eden made his investment, what were the individual capital balances?

Reference no: EM13576669

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