David and Smita have partnership capital account balances of $1052000 and $789000, respectively and share...

60.1K

Verified Solution

Question

Accounting

David and Smita have partnership capital account balances of $1052000 and $789000, respectively and share profits and losses equally, Sierra is admitted to the partnership by investing $447000 for a one-fourth ownership interest. The balance of Smita's Capital account after Sierra is admitted is $851500. O $726500. O $572000. $789000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students