Chase and Hatch Are Partners and Share Equally in Income

question 117

Multiple Choice

Chase and Hatch are partners and share equally in income or loss. Chase's current capital balance is $135,000 and Hatch's is $120,000. Chase and Hatch agree to accept Flax with a 30% interest in the partnership. Flax invests $115,000 in the partnership. The balances in Chase's and Hatch's capital accounts after admission of the new partner equal:

• A) Chase $135,000; Hatch $120,000.
• B) Chase $137,000; Hatch $122,000
• C) Chase $133,000; Hatch $118,000.
• D) Chase $139,000; Hatch $120,000.
• E) Chase $135,000; Hatch $124,000.

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Definitions:

High-Status

Holding a position of power, privilege, or high esteem within a societal hierarchy.

Slut Discourse

Discussions or narratives that stigmatize certain sexual behaviors, often aimed at women, based on perceived promiscuity.

Sexual Privilege

The advantages or rights implicitly granted to individuals based on their perceived or actual sexual orientation, often favoring heterosexuals.

Reputational Risk

The potential loss or damage to the standing or esteem of an individual or organization due to negative public perception.