Question
Lisa, Jennifer, and Maria have partnership capital account balances of $ 150200, $ 299100 and $ 69700, respectively. The profit-sharing ratio is Lisa, 50%; Jennifer,
Lisa, Jennifer, and Maria have partnership capital account balances of $ 150200, $ 299100 and $ 69700, respectively. The profit-sharing ratio is Lisa, 50%; Jennifer, 40%; and Maria, 10%. Lisa wishes to withdraw from the partnership and it is agreed that partnership assets of $ 119200 will be used to pay Lisa for her partnership interest. The balances of Jennifer's and Maria's Capital accounts after Lisa's withdrawal would be
A )Jennifer, $ 299100; Maria, $ 69700.
B) Jennifer, $ 323900; Maria, $ 75900.
C) Jennifer, $ 283600; Maria, $ 54200.
D) Jennifer, $ 274300; Maria, $ 63500
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
