Problembob and kathy are partners who share profits 60 and, Ask an Expert

Accounting

Problem:

Bob and Kathy are partners who share profits 60% and 40%. Their capital balances were both $60,000 before Donna was admitted to the partnership. Donna contributed $100,000 in cash to the partnership for a 30% interest.

Required:

Question: After Donna is admitted to the partnership, Bob will have a capital balance of $__________?

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164880

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