194
Elam Kamins and Rubio have capital balances of $150000 $100000 and $75000 respectively and their income ratios are 4:2:4.
Instructions
Record the withdrawal of Rubio from the partnership under each of the following assumptions:
1. Rubio is paid $75000 from partnership assets.
2. Rubio is paid $93000 from partnership assets.
3. Rubio is paid $60000 from partnership assets.

Question

Quizplus · Accepted Answer

The Answer of 194
Elam Kamins and Rubio have capital balances of $150000 $100000 and $75000 respectively and their income ratios are 4:2:4.
Instructions
Record the withdrawal of Rubio from the partnership under each of the following assumptions:
1. Rubio is paid $75000 from partnership assets.
2. Rubio is paid $93000 from partnership assets.
3. Rubio is paid $60000 from partnership assets.

194 Elam Kamins and Rubio Have Capital Balances of $150000 $100000