The capital balance for bolcar is 110000 and for neary is, Ask an Expert

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The capital balance for Bolcar is $110,000 and for Neary is $40,000. These two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary). Kansas invests $50,000 in cash into the partnership for a 30 percent ownership. The bonus method will be used. What is Neary's capital balance after Kansas's investment?

a.35,000
b.37,000
c.40,000
d. 43,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9415434

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