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Determine what are the capital balances of the partners

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Reference no: EM132625262

The VALVE partnership shows the following profit and loss ratios and capital balances:

A 60% P 252,000

B 30% 126,000

C 10% 42,000

Problem 1: The partners decide to sell D 20% of their respective capital and profit and loss interests for a total payment of P 90,000. D will pay the money directly to the other partners. If the partners agree that goodwill is not to be recorded, what are the capital balances of the partners after D's admission to the partnership?

Reference no: EM132625262

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