Frodo and Merry share partnership profits and losses in the ratio of 6:4. Frodo's capital account balance is $ 80,000 and Merry's capital account balance is $ 50,000. Pippen is admitted to the partnership by investing $ 90,000 and is to receive a 25% ownership interest. Frodo, Merry, and Pippen's capital balances after Pippen's investment will be

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The Answer of Frodo and Merry share partnership profits and losses in the ratio of 6:4. Frodo's capital account balance is $ 80,000 and Merry's capital account balance is $ 50,000. Pippen is admitted to the partnership by investing $ 90,000 and is to receive a 25% ownership interest. Frodo, Merry, and Pippen's capital balances after Pippen's investment will be

Frodo and Merry Share Partnership Profits and Losses in the Ratio