Following are the capital account balances for the William, Jennings, and Bryan partnership: William (40% of...
Following are the capital account balances for the William, Jennings, and Bryan partnership:
| William (40% of gains and losses) | $ | 280,000 |
| Jennings (40%) | 230,000 | |
| Bryan (20%) | 210,000 | |
Darrow invests $325,000 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
a. $327,500
b. $230,000
c. $233,450
d. $234,600
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Following are the capital account balances for the William,
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