Stan and ollie are partners who share income in the ratio, Ask an Expert

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Stan and Ollie are partners who share income in the ratio of 2:3 and have capital balances of $50,000 and $30,000 respectively. Ray is admitted to the partnership and is given a 40% interest by investing $20,000. What is Stan's capital balance after admitting Ray?

a. $20,000

b. $25,000

c. $42,000

d. $18,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414246

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