Encisco and Ollinger Are Partners Who Share Profits and Losses

Multiple Choice

Encisco and Ollinger are partners who share profits and losses equally and have capital balances of $280000 and $245000 respectively. Parks is admitted into the partnership by investing $245000 for a 30% capital interest. The account balance of Ollinger Capital after the admission of Parks would be

A) $231000.
B) $238000.
C) $252000.
D) $245000.