Jell and Dell Were Partners with Capital Balances of $600

question 20

Multiple Choice

Jell and Dell were partners with capital balances of $600 and $800 and an income sharing ratio of 2:3. They admitted Zell to a 30% interest in the partnership, and the total amount of goodwill credited to the original partners was $700. What amount did Zell contribute to the business?

• A) $900.
• B) $560.
• C) $600.
• D) $590.
• E) $630.

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