R. Gary purchases a 30% interest for $60000 when the Hise, Poole, Lagos partnership has total capital of $545400. Prior to the admission of Gary, each partner has a capital balance of $181800. Each partner relinquishes an equal amount of his capital balance to Gary. What will be the amount to be relinquished by Lagos ?

Answer rating: 100% (QA)

Answer Calculate the capital a 30 interest represents in the partnership Determine how much each exi... View the full answer