This preview shows page 1. Sign up to view the full content.
Unformatted text preview: In the Lone Pine Cafe Case also, disregarding the marital complications of Mr. and Mrs. Antoine considering the Partnership as dissolved we would be able to conclude that , As per the balance sheet as on 30 March’2006 , the financial balance sheet had Net Loss of $10,854 which has to be deducted from the Total owner’s Equity of $48000 (16000 contributed by each of all the Partners during the start of the Business ) .The balance equity left with the Cafe was of $37,146 , which has to be proportionately divided among all the partners i.e. $12,382 per partner. Thus, as the business was in Loss for the said financial period, all the partners also had to bear Loss in the returns for the capital invested in the Lone Pine Cafe....
View Full Document
This note was uploaded on 04/12/2011 for the course AAS 180 taught by Professor Shieh,yeung-nan during the Fall '10 term at San Jose State.
- Fall '10