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Deon, Dee and Doug are partners with capital balances of $80,000, $120,000 and $160,000, respectively. They share profits and losses in the ratio of 30:40:30.
Deon, Dee and Doug are partners with capital balances of $80,000, $120,000 and $160,000, respectively. They share profits and losses in the ratio of 30:40:30. Dee decides to withdraw from the partnership. Dee receives $160,000 in settlement of his interest. If the bonus method is used, what is the capital balance of Doug immediately after the retirement of Dee?
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