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Haleyharris1 Haleyharris1
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Marshall retires from the partnership of Marshall, Mark, and Dennis. Marshall had a capital balance of $25,000. If Marshall received $25,000 as final settlement, how will this transaction affect the balance sheet items?
A) Cash will increase.
B) Liabilities will increase.
C) Liabilities will decrease.
D) Equity will decrease.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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Lawson1981Lawson1981
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 D
Explanation:  D) Marshall received the book value of his capital account (no bonuses).  His Capital account will be debited (decrease) and Cash will be credited.

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Haleyharris1 Author
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4 years ago
Happy Dummy I'm impressed
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