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  3. d. shahi and k. vaughn organize a partnership. the

D. Shahi and K. Vaughn organize a partnership. Their partnership agreement states that Shahi will...

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Accounting

D. Shahi and K. Vaughn organize a partnership. Their partnership agreement states that Shahi will receive 40% of the partnership income or loss and Vaughn will receive the remaining 60%. On January 2, the two partners agree to accept Paul Williams as a partner with a 40% interest if Williams invests $80,000 cash. At the time of Williams' admission, the partnership`s accounting records show that Shahi has recorded equity of $80,000 and Vaughn has recorded equity of $90,000. The old partners will contribute to the bonus paid to Williams as follows

$12,000 by Shahi and $8,000 by Vaughn.
$32,000 by Shahi and $48,000 by Vaughn.
$8,000 by Shahi and $12,000 by Vaughn.
$32,000 by Shahi and $63,000 by Vaughn.

Which one is correct?

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