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What is the capital of cat after retirement of amy

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Question - Amy, Bea and Cat share profits & losses in the ratio of 3:2:1, respectively. It was agreed among the partners that Amy retires from the partnership and the partnership's assets to be adjusted to their fair value of 210,000. The asset that is not fairly valued is an equipment with a book value of 200,000. The partners further agreed to pay Amy 64,000 cash for her total interest in the partnership.

The capital balances of partners before retirement of Amy are the following:

Amy - 50,0000

Bea - 150.000

Cat - 75,000

Required - What is the capital of Cat after retirement of Amy?

Reference no: EM133138905

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