Question: Michael Willlams eft:1:47:15 Three partners K, C, and L share profits and losses in the ratio of 6:3:1, respectively. The condensed balance sheet for the
Michael Willlams eft:1:47:15 Three partners K, C, and L share profits and losses in the ratio of 6:3:1, respectively. The condensed balance sheet for the partnership is as follows: Cash $85,000 Other Assets $415,000 Total Assets $500,000 Liabilities $80,000 K, capital $252,000 C, capital 126,000 L, capital 42,000 Total $500,000 The partners agree to sell Bonny 20 % of their respective capital and profit and loss interests for $90,000. Bonny's payment is made to the individual partners and the partners agree on implied goodwill to be recorded prior to Bonny's acquisition. What are the capital accounts of K, C, and L, respectively, after Bonny's acquisition? D. $270,000; $135,000; $45,000 C. $216,000; $108,000; $36,000 E. $252,000: $126,000;$42,000 B. $201,600; $100,800; $33,600 A. $198,000; $99,000; $33,000
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