Multiple Choice
In the AD partnership,Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio,respectively.They decide to admit David to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.David invests $40,000 for a one-fifth interest in the total capital of $220,000.What are the capital balances of Allen and Daniel after David is admitted into the partnership?
A) Option A
B) Option B
C) Option C
D) Option D
Correct Answer:
Verified
Correct Answer:
Verified
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