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Following are the capital account balances for the William Jennings, and Bryan partnership: William (408 of gains and Losses) Jennings (403) Bryan (208) $ 290,000
Following are the capital account balances for the William Jennings, and Bryan partnership: William (408 of gains and Losses) Jennings (403) Bryan (208) $ 290,000 240,000 220,000 Darrow invests $330,000 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? Multiple Choice O $240,000 O $242,400 O $241,800 0 $339,000
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