Accounting Partners x, y, z capital balances: 150000, 250000, and 450000, respectively. p/l based on capital. y became a pwd and thus incapable of performing his duties, so he withdrew, april 25. as...


Accounting<br>Partners x, y, z capital balances: 150000,<br>250000, and 450000, respectively. p/l based on<br>capital. y became a pwd and thus incapable of<br>performing his duties, so he withdrew, april 25.<br>as at april 25: income summary 78700 (debit<br>balance). partners agreed to a +reval (land) of<br>90000, and to give y a 10% interest from<br>withdrawal date up to payment date, and a<br>bonus of 20000. as of april 25, partner drawings<br>were 3k, 10k, and 1k, respectively.<br>Required: matrix for capital update for y and<br>new p/l ratio for the remaining partners. cash<br>distribution to y, july 25.<br>

Extracted text: Accounting Partners x, y, z capital balances: 150000, 250000, and 450000, respectively. p/l based on capital. y became a pwd and thus incapable of performing his duties, so he withdrew, april 25. as at april 25: income summary 78700 (debit balance). partners agreed to a +reval (land) of 90000, and to give y a 10% interest from withdrawal date up to payment date, and a bonus of 20000. as of april 25, partner drawings were 3k, 10k, and 1k, respectively. Required: matrix for capital update for y and new p/l ratio for the remaining partners. cash distribution to y, july 25.

Jun 10, 2022
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