Solved

In the JK Partnership,Jacob's Capital Is $140,000,and Katy's Is $40,000

Question 5

Multiple Choice

In the JK partnership,Jacob's capital is $140,000,and Katy's is $40,000.They share income in a 3:2 ratio,respectively.They decide to admit Erin to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.What amount will Erin have to invest to give her a one-fourth interest in the capital of the partnership if no goodwill or bonus is recorded?


A) $45,000
B) $50,000
C) $60,000
D) $66,000

Correct Answer:

verifed

Verified

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

Related Questions