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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 Caitlin, $125,000; Chris, $85,000; and
Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership's capital balances are Caitlin, $125,000; Chris, $85,000; and Molly, $105,000. Paul is admitted to the partnership on July 1 with a 15% equity and invests $165,000. The balance in Paul's capital account immediately after his admission is:
$480,000 | ||
$72,000 | ||
$315,000 | ||
$93,000 | ||
$165,000 |
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