Question
Nunes, Orta and Paulo are partners providing engineering services. Relevant data regarding income-sharing relationships and capital balances are as follows: Partner Capital Balance Income Share
Nunes, Orta and Paulo are partners providing engineering services. Relevant data regarding income-sharing relationships and capital balances are as follows:
| Partner | Capital Balance | Income Share |
| Nunes | $ 250,000 | 20% |
| Orta | 180,000 | 30% |
| Paulo | 150,000 | 50% |
| Totals | $ 580,000 | 100% |
Orta decides to retire and receives $159,000 in cash from the partnership. If the bonus method is used to account for the retirement, Paulo's capital balance after Orta's retirement is:
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Audit Customer Satisfaction Marketing Added Value
Authors: Cindy E. Cosmas
1st Edition
089413373X, 978-0894133732
