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What is the capital of the remaining partners

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Question - Dave, Pam, and Mike have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively.

Pam retires and is paid $80,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital of the remaining partners?

Reference no: EM133156628

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