On that date they agreed to admit Soto as a partner with a one-third interest in the capital and…


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On that date they agreed to admit Soto as a partner with a one-third interest in the capital and… 1 answer below » Cicci and Arias are partners who share profits and losses in the ratio of 7:3, respectively. On October 5, 2006, their respective capital accounts were as follows: Cicci $35,000 Arias 30,000 Total $65,000 On that date they agreed to admit Soto as a partner with a one-third interest in the capital and profits and losses, upon his investment of $25,000. The new partnership will begin with a total capital of $90,000. Immediately after Soto’s admission, what are the capital balances of Cicci, Arias, and Soto, respectively? $30,000; $30,000; $30,000 $31,500; $28,500; $3 View complete question » Cicci and Arias are partners who share profits and losses in the ratio of 7:3, respectively. On October 5, 2006, their respective capital accounts were as follows: Cicci $35,000 Arias 30,000 Total $65,000 On that date they agreed to admit Soto as a partner with a one-third interest in the capital and profits and losses, upon his investment of $25,000. The new partnership will begin with a total capital of $90,000. Immediately after Soto’s admission, what are the capital balances of Cicci, Arias, and Soto, respectively? $30,000; $30,000; $30,000 $31,500; $28,500; $30,000 $31,667; $28,333; $30,000 $35,000; $30,000; $25,000 View less » Jul 08 2014 12:34 PM

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