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What are the balances of the other partners

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Question - On June 30, 2003, the consedensed balance sheet for the partnership of Eddy, fox, and Grimm. Together with their respective profit and loss sharing percentages were as follows:

Assets, net of liabilities 320,000

Eddy, capital (50%) 160,000

Fox, capital (30%) 96,000

Grimm, capital (20%) 64,000

320,000

Eddy decided to retire from the partnership and by mutual agreement is to be paid 180,000 out of partnership funds for his interest. No goodwill is to be recorded. After eddy's retirement, what are the balances of the other partners?

Reference no: EM133027275

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