A,B and C Have a Partnership as Follows Partner C Retires and the Partnership Pays Him $45,000

question 21

Multiple Choice

A,B and C have a partnership as follows:
$$\begin{array} { | l | l | l | l | } \hline & \text { A } & \text { B } & \text { C } \\\hline \text { Capital balances } & \$ 60,000 & \$ 150,000 & \$ 40,000 \\\hline \text { Profit/Loss percent } & 30 \% & 40 \% & 30 \% \\\hline\end{array}$$
Partner C retires and the partnership pays him $45,000.what is the balance is Partner A Capital account after the sale and assuming Goodwill is recognized by Partner C only

• A)$60,000
• B)$72,000
• C)$65,000
• D)$75,000

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Definitions:

Formality

The adherence to established conventions or protocol, typically characterized by a high level of seriousness or professionalism.

Sensitivity

The quality of being easily affected by external actions or influences, often related to emotional responses or issues of confidentiality.

Routine Business Messages

Standard or usual communications related to the daily operations or transactions of a business.

Request For Credit

A formal plea or application to have a monetary value recognized or applied, often in business contexts.