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The Statement of Financial Position of the XY partnership on December 31.2018, appears below. X and Y share profits and losses in the ratio 60:40.

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The Statement of Financial Position of the XY partnership on December 31.2018, appears below. X and Y share profits and losses in the ratio 60:40. Each of the following questions is independent of the others. Refer to the above information. Assume that Z, purchases a one-fourth proportionate capital interest directly from Y for a total of $60,000, and the total firm capital of the XYZ partnership is $200,000. What are the capital balances of X and Y after Z is admitted into the partnership? The Statement of Financial Position of the XY partnership on December 31.2018, appears below. X and Y share profits and losses in the ratio 60:40. Each of the following questions is independent of the others. Refer to the above information. Assume that Z, purchases a one-fourth proportionate capital interest directly from Y for a total of $60,000, and the total firm capital of the XYZ partnership is $200,000. What are the capital balances of X and Y after Z is admitted into the partnership

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