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What would partner a capital balance be after transaction

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Reference no: EM133098468

Question - Partnership has assets of $210,000 and liabilities of $65,000.

 

Partner A

Partner B

Partner C

Profit & Loss Percentage

50%

30%

20%

Capital Balance

$70,000

$30,000

$15,000

Assume the above recognized assets are understated by $25,000 and new Partner D conveys assets with a fair market value of $70,000 to the partnership in exchange for a 30% interest in capital and a 25% interest in profits.

Required - What would Partner A capital balance be after the transaction, assuming use of the bonus method.

Reference no: EM133098468

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