In the JK Partnership,Jacob's Capital Is $140,000,and Katy's Is $40,000

question 5

Multiple Choice

In the JK partnership,Jacob's capital is $140,000,and Katy's is $40,000.They share income in a 3:2 ratio,respectively.They decide to admit Erin to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.What amount will Erin have to invest to give her a one-fourth interest in the capital of the partnership if no goodwill or bonus is recorded?

• A)$45,000
• B)$50,000
• C)$60,000
• D)$66,000

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