Determining the macki capital account

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Reference no: EM13137758

Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a 3:2. Cash equals $20,000, noncash assets equal $120,000, and liabilities equal $60,000. If the noncash assets are sold for $80,000, the Macki's capital account will:

a. decrease by $16,000.

b. decrease by $24,000.

c. increase by $24,000.

d. decrease by $40,000.

Reference no: EM13137758

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