Mitch Holtus and Stan Weber are partners in a company
Mitch Holtus and Stan Weber are partners in a company called Sports Voice. Greg Sharp has approached the partners about joining the company, and he wants to buy a 20 percent interest in the company. Sports Voice has $ 80,000 in liabilities. Holtus has a capital balance of $ 108,000; Weber’s capital balance is $ 92,000. They share profits and losses equally. How much money will Sharp have to con-tribute to the company to obtain a 20 percent interest?
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help