Keith and Jim are partners.Keith has a capital balance of $49,000 and Jim has a capital balance of $38,000.Bill invested $33,000 to acquire an ownership interest of 30%.Which of the following statements is TRUE of this transaction? (Round the final answer to the nearest dollar.)
A) Keith and Jim received a bonus of $1500 each.
B) Bill received a bonus of $4900.
C) Keith and Jim received a bonus of $2450 each.
D) Bill received a bonus of $3000.

Question

Quizplus · Accepted Answer

Bill's ownership in the partnership after the investment
= 0.3 × ($49,000 + $38,000 + $33,000) = $36,000
Bill's equity bonus = $36,000 - $33,000 = $3000

Keith and Jim Are Partners