EX3.

The MC Partnership is to be liquidated when the ledger shows the following:

A, B, C and D have capital balances of OMR 160,000, OMR 180,000, and OMR190,000,150000 respectively, and their income ratios are 1:2:3:4.

Instructions

Record the withdrawal of C from the partnership under each of the following assumptions:

1.C is paid 190,000 from partnership assets.

2. C is paid 160,000 from partnership assets.

3. Cis paid 208,000 from partnership assets.