On December 31,2019, the capital balances for LMK partnership are Lami $720,000, Majed $600,000 and Kamal $600,000. The income ratios are 2:2:6 respectively. Lami decides to retire from the partnership. The partnership pays Lami $600,000 cash for his partnership interest. After retirement of Lami, what is the balance of Kamals capital account? Select one: a. $690,000 b. $528,000 c. $672,000 d. $600,000

The owners' equity statement for a partnership is called the Select one: a. partners' capital statement. b. partners' proportional statement. c. statement of shareholders' equity. d. capital and drawing statement. Please Solve As soon as Solve quickly I get you two UPVOTE directly Thank's Abdul-Rahim Taysir