In the ABC partnership (to which Y seeks admittance), the capital balances of Albert 500,000, Bert300,000,...

 

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In the ABC partnership (to which Y seeks admittance), the capital balances of Albert 500,000, Bert300,000, and Connell 200,000, who share income in the ratio of 5:3:2. Based on the preceding information, if no goodwill or bonus is recorded, how much should Y invest for a 20 percent interest? A. $400,000 B. $200,000 C. $300,000 D. $250,000 Select one: O A. 200000 B. 250000 C. 300000 D. 400000 In the ABC partnership (to which Y seeks admittance), the capital balances of Albert 500,000, Bert300,000, and Connell 200,000, who share income in the ratio of 5:3:2. Based on the preceding information, if no goodwill or bonus is recorded, how much should Y invest for a 20 percent interest? A. $400,000 B. $200,000 C. $300,000 D. $250,000 Select one: O A. 200000 B. 250000 C. 300000 D. 400000

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Question Answer 250000 Solution In the given case Y is admitted with 20 interest in ... View the full answer