Question
13. The balance sheet as of September 30, 2022 for the partnership of Daryl, Evette, and Faye shows the following information: Assets, 360,000 ; Daryl,
13. The balance sheet as of September 30, 2022 for the partnership of Daryl, Evette, and Faye shows the following information: Assets, 360,000 ; Daryl, loan 20,000, ; Daryl, Capital, 83,000 ; Evette, Capital, 77,000 ; Faye, Capital, 180,000. It was agreed among the partners that Daryl retires from the partnership, and it was also further agreed that the assets should be adjusted to their fair market value of 345,000.
The partnership is to pay Daryl 90,000 cash for his partnership interest which would include the payment of loan. Daryl, Evette, and Faye share profit and losses with the ratio: 40%, 15%, and 45% respectively.
Answer this, After Daryl's retirement, how much is Faye's capital balance?
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