Darrow invests $370,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jenningss capital balance?

Multiple Choice

$270,000

$381,000

$272,100

$272,800

Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan (20%) $320,000 270,000 250,000 Darrow invests $370,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance

Question

image text in transcribed Darrow invests $370,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jenningss capital balance?

Multiple Choice

$270,000
$381,000
$272,100
$272,800

Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan (20%) $320,000 270,000 250,000 Darrow invests $370,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance

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Darrow invests $370,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be

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