Benson and orton are partners who share income in the ratio, Ask an Expert

Accounting

Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of $30,000 and $50,000 respectively. Ramsey is admitted to the partnership and is given a 10% interest by investing $20,000. What is Orton's capital balance after admitting Ramsey?

1. $44,000

2. $20,000

3. $34,000

4. $56,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9418262

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