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The partnership paid for an operating liscence in the amount of $1,428 as well as an additional $1,400 for a cash register (itemized as equipment) in our analysis. The remaining cash attributed to the partnership was $8,672 as per the Balance Sheet dated November 2nd, 2005.
The partnership operated for a period of five (5) months after which the partnership was dissolved as of March 30, 2006. The second balance sheet shows the state of the partnership entity finances as of this date. Furthermore, a revised capital account as of March 30th, 2006 would show a loss versus the original capital invested in the partnership...
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Common topics in this essay:
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