The balance sheet for the partnership of Nina, Pinta, and Santa Maria at January 1, 2017 follows. The partners share profits and losses in the ratio of 3:2:5, respectively
Nina is retiring from the partnership. By mutual agreement, the assets are to be adjusted to their fair value of $540,000 at January 1, 2017. Pinta and Santa Maria agree that the partnership will pay Nina $135,000 cash for hers her partnership interest. There is no goodwill is to be recorded. What is the balance of Pinta's capital account after Nina's retirement?
What is the balance of Pinta's capital account after Nina's retirement?