Solved

Partners Brian,Josh,and Chad Have Capital Balances of $8,000,$6,000,and $80,000,respectively

Question 105

Multiple Choice

Partners Brian,Josh,and Chad have capital balances of $8,000,$6,000,and $80,000,respectively.The losses for the year are $10,000.What will Josh's capital balance be if the three partners share profits and losses at a 2:2:6 ratio for Brian,Josh,and Chad,respectively?


A) $4,000 debit balance
B) $1,000 debit balance
C) $2,400 debit balance
D) $4,000 credit balance

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions