Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $144,000 and Bowen's is $127,500. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $124,000 in the partnership. The balances in Mace's and Bowen's capital accounts after admission of the new partner equal:
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $144,000 and Bowen's is $127,500. Mace ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Amy's new summer job at the pool will pay her 9$ per hour. which term describes this type of hourly income? A. salary B. take-home pay C. wage D. all of the above
Answers (1)
Stewart Company has the following information at the end of the current year: Direct Materials Used $12,000 Beginning Work-in-Process Inventory 10,000 Ending Work-in-Process Inventory 8,000 Direct Labor 5,000 Manufacturing Overhead 3,000 What is the
Answers (2)
Clear, accurate writing is a way for you to show what quality?
Answers (1)
If an insurer requires a medical examination of an applicant in connection with the application for life insurance, who is responsible for paying the cost of the examination?
Answers (1)
Suppose that there is a welfare program with an income guarantee of $6000 and a benefit reduction rate of 50 percent. In the absence of the program, an individual can work up to 2000 hours per year at an hourly wage of $8 per hour. A.
Answers (1)
New Questions in Business
Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on
Answers (1)
Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
Answers (1)
Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.
Answers (1)
Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2007. What is the annual dividend on the preferred stock? a. $60 per shareb. $30,000 in totalc.
Answers (1)
a risk averse investor, which of the following four otherwise identical investment would you prefer? A. Security W, which exhibits a standard deviation of 2% and offers an average return of 12%. B.
Answers (1)