In 2012, three persons-J. Jordan, F. Rebello, and R. Murfin-joined in a partnership to advise health care providers about billing procedures and legal matters. The partnership agreement specified that profits and losses were to be shared equally. At the beginning of 2013, each partner had a capital balance of $45 000. During the year, the partnership recorded a loss of $39 000, and none of the partners took any withdrawals. At the end of 2012, how much was the capital balance for R. Murfin?

Question

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Each partner shares the loss equally, so R. Murfin's share of the $39,000 loss is $13,000. Subtracting this from the initial capital balance of $45,000 results in a capital balance of $32,000 at the end of 2012.

In 2012, Three Persons-J