Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $ 174,000 and Bowen's is $152, 500. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $154,000 in the partnership. The balances in Mace's and Bowen's capital accounts after admission of the new partner equal: aMace $ 174,000; Bowen $152,500. bMace $178, 925; Bowen $ 157,425. cMace $169,075; Bowen $147,575. dMace $183,850; Bowen $152,500. eMace $174,000; Bowen $162,350.

Mace and Bowen are partners and share equally in income or loss. Mace's current capital balance is $ 174,000 and Bowen's is $152, 500. Mace and Bowen agree to accept Kent with a 30% interest in the partnership. Kent invests $154,000 in the partnership. The balances in Mace's and Bowen's capital accounts after admission of the new partner equal: aMace $ 174,000; Bowen $152,500. bMace $178, 925; Bowen $ 157,425. cMace $169,075; Bowen $147,575. dMace $183,850; Bowen $152,500. eMace $174,000; Bowen $162,350.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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