A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2016 · Q131 Mark
X, Y and Z are in partnership sharing the profits and losses in the ratio of 2:2:1. At 31 December the following information is available. X Y Z $ $ $ capital account balances 100000 100000 50000 current account balances 20000 15000 (5000) On 31 December Z retires from the partnership. Total assets are revalued upwards by $45000. There is no goodwill. How much will Z be paid on his retirement?
A$54000
B$59000
C$60000
D$65000
✓ Correct answer
A: $54000
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