On December 31, 2022, ABC Partnership’s Statement of Financial Positions shows that A, B and C have capital balances of

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answerhappygod
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On December 31, 2022, ABC Partnership’s Statement of Financial Positions shows that A, B and C have capital balances of

Post by answerhappygod »

On December 31, 2022, ABC Partnership’s Statement of Financial
Positions shows that A, B and C have capital balances of 500,000,
300,000 and 200,000 with profit or loss ratio of 1:3:6. On January
1, 2023, C retired from the partnership and received 350,000. At
the time of C’s retirement, an asset of the partnership is not
fairly valued.

What is the capital balance of B after the retirement of C?
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