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Business, 02.11.2019 04:31 angelaOR

Caitlin, chris, and molly are partners and share income and losses in a 3: 4: 3 ratio. the partnership’s capital balances are caitlin, $120,000; chris, $80,000; and molly, $100,000. paul is admitted to the partnership on july 1 with a 20% equity and invests $160,000. the balance in paul’s capital account immediately after his admission is:

(a) $140,400
(b) $99,600
(c) $107,200
(d) $160,000
(e) $120,400

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