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What is Partnership Interest Purchase and Revaluation about?

The document discusses the dissolution of a partnership and the admission of a new partner. When a new partner is admitted through purchasing an interest from an existing partner, the purchase price is a private transaction between those partners and does not affect partnership records. If admitted through additional investment, the purchase price is recorded in partnership books. The capital account of the new partner is determined based on total capital of the continuing old partners and the new partner

Author

The Brain Dump PH

Language

EN