Homework Answers
Answer: The capital account of Jackson is credited for $2668.
Jones had a capital account balance of $40000, and he received only $36000 during his withdrawal. So that there is $4000 balance which can be shared between the remaining partners in their capital ratios.
Amount credited to Jacksons capital account = $4000 X (2÷3)
= $2667
Capital ratios between Jackson and Jolly= 40:20
= 2:1
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