Business, 22.08.2020 22:01 krlx

In their business partnership, George has an ownership interest of 55% and Ben has an ownership interest of 45%. In the current year, they purchase equipment for $9900. In order to finance the equipment purchase, George makes a cash contribution of $7400 and Ben makes a cash contribution of $2500 to the partnership. Based on the information provided, which of the following is TRUE regarding the partnership balance sheet? A) Both George, Capital and Ben, Capital will increase by $9900.
B) George, Capital will increase by $7400 and Ben, Capital will increase by $2500.
C) George, Capital will increase by $9900 and Ben, Capital will remain unchanged.
D) George, Capital will increase by $5445 and Ben, Capital will increase by $4455.

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In their business partnership, George has an ownership interest of 55% and Ben has an ownership inte...

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