x Your answer is incorrect. Try again Tom and Jim are partners who share profits and losses in the ratio of 3:2, respectively. On August 31, 2016, their capital accounts were as follows: Tom Jim $79,800 50,400 $130,200 On that date they agreed to admit John as a partner with a one-third Interest in the capital and profits and losses, for an investment of $50,200. The new partnership will begin with a total capital of $181,500. Immediately after John's admission, what are the capital balances of the partners? Tom - $60,500, Jim - $60,500, John - 560,500 Tom - $72,933, Jim - $46,967; John - $60,500 Tom - 579,600; lim - $50,400, John - $50,200 Tom - $73,620; Jim. $46,280, John - $60,500 LINK TO TEXT LINK TO TEXT X] your answer is incorrect. Try again. On June 30, 2016, the balance sheet for the partnership of Al, Carl, and Paul, together with their respective profit and loss ratios, were as follows: $179,600 $8,900 Assets, at Cost Al, Loan AI, Capital (20%) Cart, Capital (20%) Paul, Capital (60%) 42,300 38,600 89,800 $179,600 Total Al has decided to retire from the partnership. By mutual agreement, the assets are to be adjusted to their fair value of $219,700 at June 30, 2016. It was agreed that the partnership would pay Al $61,600 cash for Al's partnership interest, including Al's loan, which is to be repaid in full. No goodwill is to be recorded. After Al's retirement, what is the balance of Carl's capital account? Tom - $60,500; Im- $60,500; John - $60,500 Tom - $72,933, Iim - $46,967, John - $60,500 Tom - $79,800; Jim - $50,400, John - $50,200 Tom - $73,620; Jim - $46,280, John - $60,500 LINK TO TEXT LINK TO TEXT Your answer is incorrect. Try again. On June 30, 2016, the balance sheet for the partnership of Al, Carl, and Paul, together with their respective profit and loss ratios, were as follows: Assets, at Cost AI, Loan Al, Capital (20%) Carl, Capital (20%) Paul, Capital (60%) $179,600 $8,900 42,300 38,600 89,800 $179,600 Total Al has decided to retire from the partnership. By mutual agreement, the assets are to be adjusted to their fair value of $219,700 at June 30, 2016. It was agreed that the partnership would pay Al $61,600 cash for Al's partnership Interest, including Al's loan, which is to be repaid in full. No goodwill is to be recorded. After Al's retirement, what is the balance of Carl's capital account? $46,025. $36,025 $38,600. $46,620 LINK TO TEXT LINK TO TEXT