Rahman,Ganesh and Malik had a long-standing and highly profitable accounting business organized as a partnership with equal sharing of profits and losses.At the end of 2014,all partners agreed to liquidate the partnership.At that time,the balance sheet was as follows:
The inventory was sold for $54,000 and the land was sold for $220,000 cash.After sale of the assets and settlement of accounts payable,how much were the balances in the partners' capital accounts?

Question

Rahman,Ganesh and Malik had a long-standing and highly profitable accounting business organized as a partnership with equal sharing of profits and losses.At the end of 2014,all partners agreed to liquidate the partnership.At that time,the balance sheet was as follows:
  The inventory was sold for $54,000 and the land was sold for $220,000 cash.After sale of the assets and settlement of accounts payable,how much were the balances in the partners' capital accounts?

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The Answer of Rahman,Ganesh and Malik had a long-standing and highly profitable accounting business organized as a partnership with equal sharing of profits and losses.At the end of 2014,all partners agreed to liquidate the partnership.At that time,the balance sheet was as follows:
  The inventory was sold for $54,000 and the land was sold for $220,000 cash.After sale of the assets and settlement of accounts payable,how much were the balances in the partners' capital accounts?

Rahman,Ganesh and Malik Had a Long-Standing and Highly Profitable Accounting