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The Felton and Burchell Partnership has partner capital account balances as follows: Felton, Capital $550,000 Burchell, Capital 200,000 The partners share income and losses in
The Felton and Burchell Partnership has partner capital account balances as follows:
Felton, Capital $550,000
Burchell, Capital 200,000
The partners share income and losses in the ratio of 40% to Felton and 60% to Burchell
Santos invests $210,000 in the partnership for a one-third (1/3) interest in partnership capital.
Required: How much would Felton lose from his capital, due to this transaction?
(Note: write your answer as a number only, with no commas or dollar signs).
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