Problemmark andy and ron are partners who share profits 30, Ask an Expert

Accounting

Problem:

Mark, Andy, and Ron are partners who share profits 30%, 30%, and 40%. Their capital balances were $630,000, $420,000, and $210,000, respectively, before Ron's retirement. Ron was paid $330,000 from partnership assets to buy his interest. After Ron has withdrawn, Mark will have a capital balance of $______________?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164883

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