Marshall retires from the partnership of Marshall, Mark, and Dennis. Marshall had a capital balance of $25,000.

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Marshall retires from the partnership of Marshall, Mark, and Dennis. Marshall had a capital balance of $25,000. If Marshall received $25,000 as final settlement, how will this transaction affect the balance sheet?

a) liabilities will decrease

b) liabilities will increase

c) equity will decrease

d) cash will increase

Posted Date: Nov 09, 2021 12:59 AM

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Marshall retires from the partnership of Marshall, Mark, and Dennis. Marshall had a capital balance of $25,000.

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