Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the...
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Accounting
Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan (20%) $260,000 210,000 190,000 Darrow invests $300,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance? Multiple Choice o $300,000 O $210,000 O $213.600 o $214.800 Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (40%) Jennings (40%) Bryan (20%) $260,000 210,000 190,000 Darrow invests $300,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance? Multiple Choice o $300,000 O $210,000 O $213.600 o $214.800
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