QUESTION 4 Caitlin, Chris, and Molly are partners and share income and losses in a...
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Accounting
QUESTION 4
Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio. The partnership's capital balances are Caitlin, $125,000; Chris, $85,000; and Molly, $105,000. Paul is admitted to the partnership on July 1 with a 15% equity and invests $165,000. The balance in Paul's capital account immediately after his admission is:
$72,000 $93,000 $480,000 $165,000 $315,000
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