The capital balance for Maxwell is $110,000 and for Russell is $40,000. These two partners share profits

Question:

The capital balance for Maxwell is $110,000 and for Russell is $40,000. These two partners share profits and losses 70 percent (Maxwell) and 30 percent (Russell). Evan invests $50,000 in cash into the for a 30 percent ownership. The bonus method will be used. What is Russell's capital balance after Evan's investment?
a. $35,000
b. $37,000
c. $40,000
d. $43,000
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...