Page 1 of 1
12.5 Admission of a Partner Ann and Barb had capital balances of $75,000 and $150,000 respectively when Cindy invested $
Posted: Mon May 30, 2022 7:02 am
by answerhappygod
- 12 5 Admission Of A Partner Ann And Barb Had Capital Balances Of 75 000 And 150 000 Respectively When Cindy Invested 1 (17.99 KiB) Viewed 16 times
12.5 Admission of a Partner Ann and Barb had capital balances of $75,000 and $150,000 respectively when Cindy invested $165,000 for a 40% ownership of the business. Ann and Barb share profits and losses in a 40:60 ratio. Which
statement is correct? O Cindy's capital account will be debited for $165.000. O Cindy's capital account will be debed for $156,000. O Cindy's capital account will be credited for $165,000. O Cindy's capital account will be credited for $156,000.