Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio
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Partners Ana, Beth, and Cathy have capital account balances of $90,000 each. The income and loss ratio is 5:2:3, respectively. In the process of liquidating the partnership, noncash assets with a book value of $75,000 are sold for $30,000. The balance of Beth's Capital account after the sale is
A)$67,500.
B)$76,500.
C)$81,000.
D)$99,000.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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