Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
please show me how to get this answer. postive rate ready, thanks a lot The balance sheet of the Troy Partnershsat September 30, 2016, shows
please show me how to get this answer. postive rate ready, thanks a lot The balance sheet of the Troy Partnershsat September 30, 2016, shows Various as 1600 000 V100 000 Capital Thomas 100.000 Capital Renee 150.000 Capital Oscar 100.000 Capital Yonne 50.000 TOTAL 600,000 TOTAL 000 The partners share income equally Renee decides to retire as a partner. The remaining partners agree to pay thenee $294.000 from partneho funds, and to the bon mathod The capital accounts of the remaining partners after Renee's retirement are Thomas $200,000, Oscar $100,000, Yvonne 550,000 Thomas $102,000, Oscar $2,000, Yvonne $(48,000).* Thomas 5152,000, Oscar 552,000, Yvonne $2,000, Thomas $153,000, Oscar $53,000, Yvonne $0. Mark 0.00 out of 1,00 The correct answer is: Thomas $152.000, Oscar $52,000, Yvonne $2,000. Renee's capital account was $150,000, and she is paid $294.000. This implies a bonus to Renee of $144,000, which is shared equally by the three semaining partners Try another question like this one
please show me how to get this answer. postive rate ready, thanks a lot
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started