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A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 252,000 30% 126,000 10% 42,000 The partners decide to sell D 20% of their respective capital and profit and loss interests for a total payment of 90,000. D will pay directly to the partners. If the partners agreed to revalue the assets prior to the admission of D, what are the capital balances of the partners after his admission?

A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 252,000 30% 126,000 10% 42,000 The partners decide to sell D 20% of their respective capital and profit and loss interests for a total payment of 90,000. D will pay directly to the partners. If the partners agreed to revalue the assets prior to the admission of D, what are the capital balances of the partners after his admission?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 252,000 30% 126,000 10% 42,000 The partners decide to sell D 20% of their respective capital and profit and loss interests for a total payment of 90,000. D will pay directly to the partners. If the partners agreed to revalue the assets prior to the admission of D, what are the capital balances of the partners after his admission?
Transcribed Image Text:A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 252,000 30% 126,000 10% 42,000 The partners decide to sell D 20% of their respective capital and profit and loss interests for a total payment of 90,000. D will pay directly to the partners. If the partners agreed to revalue the assets prior to the admission of D, what are the capital balances of the partners after his admission?
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