Asked by Kathryn Turner on May 05, 2024

Verified

Gable and Devito share partnership profits and losses in the ratio of 6:4. Gable's Capital account balance is $160000 and Devito's Capital account balance is $100000. Nance is admitted to the partnership by investing $180000 and is to receive a one-fourth ownership interest. Gable Devito and Nance's capital balances after Nance's investment will be $\begin{array}{ccccccc}& & & \text{ Gable }& \text{ Devito }& & \text{ Nance }\end{array}$
A) $\begin{array}{cccc}& \$160,000& \$100,000& \$180,000\end{array}$
B) $\begin{array}{cccc}& \$202,000& \$128,000& \$110,000\end{array}$
C) $\begin{array}{cccc}& \$198,000& \$132,000& \$110,000\end{array}$
D) $\begin{array}{cccc}& \$195,000& \$135,000& \$110,000\end{array}$