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P. L. and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the PLO
P. L. and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the PLO partnership 30%, 20%, and 50%, respectively, when they agree to admit C for a 20% interest. If C is to contribute an amount equal to his book value share of the new partnership, how much should C contribute? Multiple Choice $22,000 $20,000 $25.000 $18.000 $10,000
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