The following capital balances as of October 31 , 2016 for the Partnership of Wilma , Xelyn and Yska were as follows : Wilma , Capital 204,000 Xelyn , Capital 132,000 Yska , Capital 360,000 Wilma has decided to retire from the partnership on October 31. Their profit and loss ratio is 3/4 / 3 to Wilma , Xelyn and Yska , respectively . The partnership will purchase the interest of Wilma by paying 234,000. Questions 1. How much is the TOTAL Goodwill? 2. What amount of capital will be credited to Xelyn? 3. What amount of capital will be credited to Yska? 4. How much is Total Adjusted Capital after Wilma has retired ?
The following capital balances as of October 31 , 2016 for the Partnership of Wilma , Xelyn and Yska were as follows : Wilma , Capital 204,000 Xelyn , Capital 132,000 Yska , Capital 360,000 Wilma has decided to retire from the partnership on October 31. Their profit and loss ratio is 3/4 / 3 to Wilma , Xelyn and Yska , respectively . The partnership will purchase the interest of Wilma by paying 234,000. Questions 1. How much is the TOTAL Goodwill? 2. What amount of capital will be credited to Xelyn? 3. What amount of capital will be credited to Yska? 4. How much is Total Adjusted Capital after Wilma has retired ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following capital balances as of October 31 , 2016 for the Partnership of Wilma , Xelyn and Yska were as follows : Wilma , Capital 204,000
Xelyn , Capital 132,000
Yska , Capital 360,000
Wilma has decided to retire from the partnership on October 31. Their profit and loss ratio is 3/4 / 3 to Wilma , Xelyn and Yska , respectively . The partnership will purchase the interest of Wilma by paying 234,000.
Questions
1. How much is the TOTAL Goodwill ?
2. What amount of capital will be credited to Xelyn?
3. What amount of capital will be credited to Yska?
4. How much is Total Adjusted Capital after Wilma has retired ?
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