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Dina, Hanan, and Traci have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%,and 40% respectively. Hanan
Dina, Hanan, and Traci have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%,and 40% respectively. Hanan retires and is paid $80,000 based on an independent appraisal of the business. If the goodwill method is used, what is the capital of the remaining partners? if the bonus method is used, what is the capital of the remaining partners?
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