Question
Amy,Lisa, andJenniferhave partnership capital account balances of $150500, $299600and $70900, respectively. The profit-sharing ratio isAmy, 50%;Lisa, 40%; andJennifer, 10%.Amywishes to withdraw from the partnership and
Amy,Lisa, andJenniferhave partnership capital account balances of $150500, $299600and $70900, respectively. The profit-sharing ratio isAmy, 50%;Lisa, 40%; andJennifer, 10%.Amywishes to withdraw from the partnership and it is agreed that partnership assets of $120200will be used to payAmyfor her partnership interest. The balances ofLisa's andJennifer's Capital accounts afterAmy's withdrawal would be
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
