Benny, George, and Angie have partnership capital accounts with balances of $150,000, $300,000, and $70,000,...
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Benny, George, and Angie have partnership capital accounts with balances of $150,000, $300,000, and $70,000, respectively. The income sharing ratio is Benny, 50%; George, 40%; and Angie, 10%. Benny decides to withdraw from the partnership. It is agreed that George and Angie will each pay Benny $80,000 from their personal assets for half of Bennys partnership interest. The balances in Georges and Angies capital accounts after Bennys withdrawal would be
George, $420,000, and Angie, 100,000.
George, $300,000 and Angie, $70,000.
George, $380,000, and Angie, $150,000.
George, $375,000, and Angie, $145,000.
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