A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 300,000 B 30% 120,000 C 10% 50,000 The partners decided 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 is the capital balance of C after D's admission?
A, B and C partnership shows the following profit and loss ratios and capital balances: A 60% 300,000 B 30% 120,000 C 10% 50,000 The partners decided 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 is the capital balance of C after D's admission?
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3EA: The partnership of Tasha and Bill shares profits and losses in a 50:50 ratio, and the partners have...
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Question
9. A, B and C partnership shows the following
A |
60% |
300,000 |
B |
30% |
120,000 |
C |
10% |
50,000 |
The partners decided 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 is the capital balance of C after D's admission?
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