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. The 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.:- M9415477

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