Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Rr.5.

Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (45%) Jennings (45%) Bryan (10%) $300,000 250,000 230,000 Darrow invests $345,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance? Multiple Choice . $253,375 $252,250 $353,500 $250,000
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Transcribed Image Text:Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (45%) Jennings (45%) Bryan (10%) $300,000 250,000 230,000 Darrow invests $345,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance? Multiple Choice . $253,375 $252,250 $353,500 $250,000
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