After closing the books, Stihl & Laksa's partnership balance sheet reports owner's equity of $40,500 for Stihl

Question:

After closing the books, Stihl & Laksa's partnership balance sheet reports owner's equity of $40,500 for Stihl and $54,000 for Laksa. Stihl is withdrawing from (leaving) the firm. He and Laksa agree to write down partnership assets by $18,000. They have shared profits and losses in the ratio of one-third to Stihl and two-thirds to Laksa. The partnership agreement states that a partner withdrawing from the firm will receive assets equal to the book value of his owner's equity.

1. How much will Stihl receive?

2. Laksa will continue to operate the business as a proprietorship. What is Laksa's beginning Capital on the proprietorship books?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...