Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership’s capital balances are Cait

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3 years ago

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Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership’s capital balances are Cait

lin, $131,000; Chris, $91,000; and Molly, $111,000. Paul is admitted to the partnership on July 1 with a 15% equity and invests $171,000. The balance in Caitlin’s capital account immediately after Paul’s admission is: Multiple Choice $171,000 $102,380 $159,620 $139,620 $129,160

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1 answer:

natka813 [3] · Answer 1 · 2022-05-15T14:46:35+03:00

natka813 [3]3 years ago

6 0

Answer:

Pauls' share in partnership=(131000+91000+111000+171000)*0.15%= $75600

Balance in Caitlin’s capital account immediately after Paul’s admission = 131000-(75600-71000)*30%= $129160