Avery and Bert Are Partners Who Share Profits in a Ratio

question 27

Multiple Choice

Avery and Bert are partners who share profits in a ratio of 2:1 and have capital balances of $75,000 and $150,000,respectively.The partners agree to admit Carmen to the partnership.Carmen invests $75,000 for a 35 percent interest in the partnership.The new total capital balance after admitting Carmen is $300,000.The entry to record the admission of Carmen to the partnership is:

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Definitions:

Psychic Energy

In psychoanalytic theory, the energy produced by instinctual drives and libido, considered the driving force behind human behavior and mental processes.

Conflicting Emotions

Experiencing two or more opposing emotions at the same time, leading to feelings of discomfort or confusion.