On December 31, 2022, ABC Partnership’s Statement of Financial Positions shows that A, B and C have capital balances of 500,000, 300,000 and 200,000 with profit or loss ratio of 1:3:6. On January 1, 2023, C retired from the partnership and received 350,000.
On December 31, 2022, ABC Partnership’s Statement of Financial Positions shows that A, B and C have capital balances of 500,000, 300,000 and 200,000 with profit or loss ratio of 1:3:6. On January 1, 2023, C retired from the partnership and received 350,000.
Chapter21: Partnerships
Section: Chapter Questions
Problem 11BCRQ
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On December 31, 2022, ABC
What is the capital balance of B after the retirement of C?
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ISBN:
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Author:
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Publisher:
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