iz Time Left:0:48:36 Arron Bernhart: Attempt 2 Question 7 (1 point) Letourneau i

Question

iz Time Left:0:48:36 Arron Bernhart: Attempt 2 Question 7 (1 point) Letourneau invests $20,000 in cash (admission by investment) in the Seiler-Shaw partnership to acquire a 1/4 interest. In this case a) Letourneau's income ratio will automatically be 1/4. b) the total net assets of the new partnership are unchanged from the previous partnership. d the total capital of the new partnership is greater than the total capital of the old partnership. d) the accounting will be the.same as a purchase of an interest. Save ted Question 8 (1 point)

Explanation / Answer

the correct answer is option C

Explanation:

the capital of new partner can be more than the capital of older partners and he bought the interest from already established partnership so he need to invest more than the older partners

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.