Question
Capital balances in the MURF partnership are Molly, Capital $50,000; Ursula, Capital $40,000; Ray, Capital $30,000; and Fred, Capital $20,000, and income ratios are 4:3:2:1,
Capital balances in the MURF partnership are Molly, Capital $50,000; Ursula, Capital $40,000; Ray, Capital $30,000; and Fred, Capital $20,000, and income ratios are 4:3:2:1, respectively. Fred withdraws from the firm following payment of $29,000 in cash from the partnership. Ursula’s capital balance after recording the withdrawal of Fred is:
a. $36,000.
b. $37,000.
c. $38,000.
d. $40,000.
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
