Question
Gable and Devito share partnership profits and losses in the ratio of 6:4. Gable's Capital account balance is $162000and Devito's Capital account balance is $97000.
Gable and Devito share partnership profits and losses in the ratio of 6:4. Gable's Capital account balance is $162000and Devito's Capital account balance is $97000. Nance is admitted to the partnership by investing $184000and is to receive a one-fourth ownership interest. Gable, Devito and Nance's capital balances after Nance's investment will be
GableDevitoNance
$199000 $135750 $110750
$202000 $132750 $110750
$205950 $126300 $110750
$162000 $97000 $184000
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Managerial Accounting for the Hospitality Industry
Authors: Lea R. Dopson, David K. Hayes
2nd edition
978-1-119-2996, 1119299659, 978-1119386223
