Danny Ortiz and Angela Hufford Are Partners,and Each Has a Capital

question 46

Multiple Choice

Danny Ortiz and Angela Hufford are partners,and each has a capital balance of $25,000.To gain admission to the partnership,Derek Peters pays $15,000 directly to Ortiz for one-half of his equity.After the admission of Peters,the total partners' equity in the records of the partnership will be

• A) $65,000.
• B) $62,500.
• C) $50,000.
• D) $75,000.

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Definitions:

Rectus Abdominis

A long muscle that extends along the front of the abdomen, playing a key role in flexing the spinal column and stabilizing the core.

Vertebral Column

The flexible and supportive spine, composed of a series of bones called vertebrae, extending from the skull to the small of the back.

Abdominal Wall

The abdominal wall is comprised of muscles and tissues that enclose the abdominal cavity, supporting and protecting the organs within.

Internal Oblique

A muscle in the abdominal wall that acts to compress the abdomen and flex the spine.