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Thandie and Marco are partners with capital balances of $\$ 60,000$ . They share profits and losses at 50$\%$ . Chris contributes $\$ 30,000$ to the partnership for a 1$/ 3$ share. What amount should Thandie's capital balance in the partnership be?A. $\$ 60,000$B. $\$ 50,000$C. $\$ 45,000$D. $\$ 30,000$

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Chapter 15

Partnership Accounting

Section 4

Prepare Journal Entries to Record the Admission and Withdrawal of a Partner

Firm Behavior and the Organization of Industry

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we have a business that is invested by three people. The 1st 2 people invest attitude of three ratio, and then we know that this third person invest twice as much as the two of them combined. So, for instance, if we combine two and three, we would get five and twice a Muchas that is 10. And so we know the ratio amongst the three people is 2 to 3 to 10. And so basically, we can find out how much this person this third person has by saying, if I do 10 plus three plus two, that's 15. And so basically, this would be kind of the total. And so if I'm saying, what this person owns is 10 to 15 ratio where 15 is the total company, and maybe that doesn't make quite as much sense is seen. It is a fraction this person owns 25th of that company and a nisi kind of way I'm already getting to part C. If you divide both of these by five, that person owns 2/3 of the company. And so this right here is the answer to part C. And I'm gonna use this also to find the answer to part, Okay, Because if this company is worth $30 million I just need to multiply this by the two. Not 1/3 by 2/3. And I'll see how much this person owns. Well, 2/3 as a decimal 0.6 repeating. And so, if you plug that into your calculator multiplied by 30 um, you will get that this person owns 20 million of the company. So let me try to write that and maybe how I didn't green so that it kind of stands out in this little bit jumbled up. So this is the answer to part A. This person owns 20 million of the company and Parsi they own 2/3. I believe Part B just asked, Do they own more than half of it and does a major investor on Matt more than half of business? Absolutely. Half the business would be 15 million and 20 million is more than half. And so sorry that this is a hair disorganized with the answer. Part B is yes, they do own a majority of the business. A 20 million be Yes, they own a majority of it. And C they own 2/3

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