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W. Alexis and X. Cassandra form a partnership and have capital balances of 100,000 and 200,000 respectively. If they agree to admit V. Lucas into the partnership, how much will he have to invest to have a % interest? А. 50,000 В. 75,000 С. 100,000 D. 200,000

W. Alexis and X. Cassandra form a partnership and have capital balances of 100,000 and 200,000 respectively. If they agree to admit V. Lucas into the partnership, how much will he have to invest to have a % interest? А. 50,000 В. 75,000 С. 100,000 D. 200,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6. W. Alexis and X. Cassandra form a partnership and have capital balances of 100,000 and 200,000 respectively. If they agree to admit V. Lucas into the partnership, how much will he have to invest to have a 4 interest? А. 50,000 В. 75,000 С. 100,000 D. 200,000 7. H. Falcon and J. Gerry are partners who share profits equally and losses in a 2:1 ratio. Falcon and Gerry have beginning capital balances of 200,000 and 250,000 respectively, and made no wtthdrawals during the period of two years. After profitable operations on the first year with an income of 200,000 and unprofitable operations on the second year with a loss of 120,000, the capital balances of Falcon and Gerry will be FALCON GERRY А. 240,000 290,000 В. 195,000 285,000 С. 220,000 310,000 D. 335,000 385,000
Transcribed Image Text:6. W. Alexis and X. Cassandra form a partnership and have capital balances of 100,000 and 200,000 respectively. If they agree to admit V. Lucas into the partnership, how much will he have to invest to have a 4 interest? А. 50,000 В. 75,000 С. 100,000 D. 200,000 7. H. Falcon and J. Gerry are partners who share profits equally and losses in a 2:1 ratio. Falcon and Gerry have beginning capital balances of 200,000 and 250,000 respectively, and made no wtthdrawals during the period of two years. After profitable operations on the first year with an income of 200,000 and unprofitable operations on the second year with a loss of 120,000, the capital balances of Falcon and Gerry will be FALCON GERRY А. 240,000 290,000 В. 195,000 285,000 С. 220,000 310,000 D. 335,000 385,000
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