The following balance sheet information is for the partnership of Abel,Boule,and Cayman:
Figures shown parenthetically reflect agreed profit and loss sharing percentages.
If assets on the initial balance sheet are fairly valued,Abele and Boule consent and Dann pays Cayman $225,000 for his interest; the revised capital balances of the partners would be
A) Abele,$315,000; Boule,$495,000; Dann,$450,000.
B) Abele,$315,000; Boule,$495,000; Dann,$420,000.
C) Abele,$300,000; Boule,$570,000; Dann,$450,000.
D) Abele,$300,000; Boule,$480,000; Dann,$420,000.
Correct Answer:
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