Tony, Mary, and Tegan are partners with capital balances of $200,000, $120,000, and $120,000, respectively....
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Tony, Mary, and Tegan are partners with capital balances of $200,000, $120,000, and $120,000, respectively. Profits and losses are shared in a 3:1:1 ratio. Tegan decided to withdraw and the 7. partnership revalued its assets. The value of inventory was decreased by $40,00 and the value of land was increased by $80,000. Tony and Mary then agreed to pay Tegan $180,000 for her withdrawal from the partnership. Required Prepare a schedule to identify capital account balances of Tony and Mary after Tegan's withdrawal under the: A. B. bonus method. goodwill method. TonyaryTean ,000 120,000 120,000 egan
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