Question
Albert, Ben, and Carl have capital balances of $80,000, $90,000 and $130,000 respectively when Ben and Carl agree to buy Alberts share of the business
Albert, Ben, and Carl have capital balances of $80,000, $90,000 and $130,000 respectively when Ben and Carl agree to buy Alberts share of the business using a combination of personal and partnership assets. The current profit or loss ratio is 1:2:2, respectively. Albert is paid $25,000 from each of the other partners personal assets for one-half of his interest and $50,000 from partnership assets for the other half. What will be the total capital after this transaction has been recorded? Select answer from the options below $280,000 $200,000 $220,000 $250,000
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