Partners A and B share profits and losses equally and have capital balances of $50,000 and...

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Partners A and B share profits and losses equally and have capital balances of $50,000 and $70,000 respectively. Partner C is admitted and acquired a 30 percent interest in the capital of the new partnership by investing $60,000 in cash. What is the new capital balance of Partner B after admitting the new partner assuming the partners agreed to revalue the assets of the A & B partnership? 70,000 Partners A and B share profits and losses equally and have capital balances of $50,000 and $70,000 respectively. Partner C is admitted and acquired a 30 percent interest in the capital of the new partnership by investing $60,000 in cash. What is the new capital balance of Partner B after admitting the new partner assuming the partners agreed to revalue the assets of the A & B partnership? 70,000