Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $140,000 and Chong's is $130,000. Peters and Chong agree to accept Aaron with a 30% interest in the partnership. Aaron invests $98,000 in the partnership.
- The balances in Peters's and Chong's capital accounts after admission of the new partner equal:
A) Peters $140,000; Chong $130,000.
B) Peters $133,800; Chong $123,800.
C) Peters $146,200; Chong $136,200.
D) Peters $145,000; Chong $135,000.
E) Peters $166,027; Chong $156,027.

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The Answer of Peters and Chong are partners and share equally in income or loss. Peters' current capital balance is $140,000 and Chong's is $130,000. Peters and Chong agree to accept Aaron with a 30% interest in the partnership. Aaron invests $98,000 in the partnership.
- The balances in Peters's and Chong's capital accounts after admission of the new partner equal:
A) Peters $140,000; Chong $130,000.
B) Peters $133,800; Chong $123,800.
C) Peters $146,200; Chong $136,200.
D) Peters $145,000; Chong $135,000.
E) Peters $166,027; Chong $156,027.

Peters and Chong Are Partners and Share Equally in Income