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problem: Groh & Jackson are partners. Groh’s capital balance in the partnership is USD 64,000 & Jackson’s capital balance is 61,000. Groh & Jackson have agreed to share equally in income or loss. Groh & Jackson agree to accept Block with a 20 percent interest. Block will invest 35,000 in the partnership. The bonus that is granted to Groh & Jackson equals:

[A]     3750 each

[B]     USD 1500 each

[C]    1875 each

[D]    1920 to Groh; 1830 to Jackson

[E]     USD 0 because Groh & Jackson actually grant a bonus back to Block

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M916402

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