Question
15. Bea and Gerald are partners who has a capital of 90,000 each and share profits and losses equally. The offer is to admit Julia
15. Bea and Gerald are partners who has a capital of 90,000 each and share profits and losses equally. The offer is to admit Julia for one-third interest in the firm upon her investment of an amount equal to the agreed capital as a new partner. What is the partnership's agreed capital?*
A) 180,000
B) 135,000
C) 90,000
D) 270.000
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
