Compute the capital balances of the remaining partner

Reference no: EM132830815

Question - Partner c decided to retire when the partners' capital balances were: A, 600 000; B, 600 000; C, 400 000. It was agreed that Partner C is to take the partnership's fully depreciated equipment with a fair value of 24 000. The historical cost of the equipment is 36 000. The partners share in profit and losses equally. Compute the capital balances of the remaining partner after the retirement of C.

Reference no: EM132830815

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