Lexi Invests $80,000 for a One-Fourth Interest in a Partnership

question 45

Multiple Choice

Lexi invests $80,000 for a one-fourth interest in a partnership in which the other partners have capital totaling $160,000 before admitting Lexi.After distribution of the bonus,what is Lexi's capital balance?

• A)$20,000
• B)$40,000
• C)$60,000
• D)$80,000

---

Definitions:

Barter

The exchange of goods and services between parties without the use of money as a medium of exchange.

Bank Credit Cards

Financial instruments issued by banks that allow users to borrow funds from a pre-approved limit to purchase items or withdraw cash.

Bank Of America

A multinational investment bank and financial services holding company based in the United States, serving millions of customers worldwide.

Riegle-Neal Interstate Banking

Legislation passed in the United States in 1994 that allowed bank holding companies to acquire banks in other states, effectively removing barriers to interstate banking.