Ann joe and ed have partnership capital account balances of, Ask an Expert

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Ann, Joe, and Ed have partnership capital account balances of $150,000, $300,000 and $70,000 respectively. The income sharing ratio is Ann 50%, Joe 40%, and Ed 10%. Ann wants to withdraw from the partnership and it is agreed that partnership assets of $130,000 will be used to pay Ann. what the balances of Joe's and Ed's Capital accounts after Ann's withdrawal would be ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945601

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