The partnership of Gamma, Ginger, and Gert had total capital of $1,140,000 on December 31, 2017, as follows: Profit and loss sharing percentages are shown in parentheses. Assume that Grizelda became a partner by investing $300,000 in the Gamma, Ginger, and Gert partnership for a 25 percent interest in capital and profits and that partnership net assets are not revalued. Grizelda's capital credit should be:

Question

The partnership of Gamma, Ginger, and Gert had total capital of $1,140,000 on December 31, 2017, as follows:  Profit and loss sharing percentages are shown in parentheses. Assume that Grizelda became a partner by investing $300,000 in the Gamma, Ginger, and Gert partnership for a 25 percent interest in capital and profits and that partnership net assets are not revalued. Grizelda's capital credit should be:

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The Answer of The partnership of Gamma, Ginger, and Gert had total capital of $1,140,000 on December 31, 2017, as follows:  Profit and loss sharing percentages are shown in parentheses. Assume that Grizelda became a partner by investing $300,000 in the Gamma, Ginger, and Gert partnership for a 25 percent interest in capital and profits and that partnership net assets are not revalued. Grizelda's capital credit should be:

The Partnership of Gamma, Ginger, and Gert Had Total Capital