3 Question 11 (2 points) Saved Listen

3 6 9 12 15 18 21 24 Question 11 (2 points) v' Saved Listen Rice, Hepburn, and Marco formed a partnership with Rice contributing $60,000, Hepburn contributing $50,000 and Marco contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments. If the partnership had an income of $75,000 for its first year, what amount of income (rounded to the nearest dollar) would be credited to Marco's capital account? @A) $20,000. O B) $25,000. O C) $30,000. O D) $40,000. O E) $75,000. Question 12 (2 points) v' Saved Listen Chen and Wright are forming a partnership. Chen will invest a building that currently is being used by another business owned by Chen. The building has a market value of $90,000. Also, the partnership will assume responsibility for a $30,000 note secured by a mortgage on that building. Wright will invest $50,000 cash. For the partnership, the amounts to be recorded for the building and for Chen's capital account are: O $90,000 and Chen, Capital, $90,000. A) Building, O B) Building, $60,000 and Chen, Capital, $60,000. O $60,000 and Chen, Capital, $50,000. C) Building, $90,000, and Chen, Capital, $60,000. D) Building, O E) Building, $60,000 and Chen, Capital, $90,000.