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Cynthia invests $20,000 for a 1/3 interest in a partnership. Nixon and Julia, the existing partners have capital balances of $20,000 and $14,000, respectively
Cynthia invests $20,000 for a 1/3 interest in a partnership. Nixon and Julia, the existing partners have capital balances of $20,000 and $14,000, respectively before admitting Cynthia. Income and losses are shared using a ratio of 2 to 1, respectively. After the distribution of the bonus, what is the balance in Nixon's capital account? Select one: O a. $20,000 O b. $14,666.66 Oc. $21,333.33 Od. $20,666.66
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