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What is the balance of newlin capital account

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Problem 1: On November 30, capital balances are Howe $90,000, Doss $75,000 and Newlin $75,000. The income ratios are 20%, 20% and 60%, respectively. Howe decides to retire from the partnership. The partnership pays Howe $100,000 cash for her partnership interest. After Howe's retirement, what is the balance of Newlin's capital account?

Option a- 97,500

Option B- 75,000

Option C- 71,250

Option D- 72,500

Reference no: EM132612653

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