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 fi rm following payment of $29,000 in cash
from the partnership. Ursulas capital balance after recording the
withdrawal of Fred is:
a. $36,000. c. $38,000.
b. $37,000. d. $40,000.
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Horngrens Accounting Volume 1
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura
12th Canadian Edition
0136889373, 9780136889373
