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11/30 Capital Balances (20)? On November 30, capital balances are Steven $301000, Ellis $249000 and Gise $249000. The income ratios are 20%, 20% and 60%,
11/30 Capital Balances (20)?
On November 30, capital balances are Steven $301000, Ellis $249000 and Gise $249000. The income ratios are 20%, 20% and 60%, respectively. Steven decides to retire from the partnership. The partnership pays Steven $240000 cash for her partnership interest. After Steven's retirement, what is the balance of Gise's capital account? O $285600 O $294750 O $240000 O $212400 Step by Step Solution
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