Answer:
The question continues ; Which of the following is true ;
Jaylan basis in the partnership is $12,00 and Caspers is 10,000
Jaylan and Casper each have a basis in the partnership of 12,000
Jaylan will have a larger share of the profits than Casper
The first and third answers are both correct
Answer ; Jaylan and Casper each have a basis in the partnership of 12,000
Step-by-step explanation:
Both Jaylan and casper will have a partnership basis of $12,000 , it was mentioned initially in the question that (Jaylan and casper are equal partners in J&C racoon hats), equal partners implies both Jaylan and casper with have equal profit and equal losses as the case maybe Irrespective of the amount each contributed. Hence Jaylan and Casper each have a basis in the partnership of 12,000.
