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Business, 10.09.2019 19:20 reagybear

In the jk partnership, jacob's capital is $140,000, and katy's is $40,000. they share income in a 3: 2 ratio, respectively. they decide to admit erin to the partnership. each of the following questions is independent of the others.
refer to the information provided above. erin directly purchases a one-fifth interest by paying jacob $33,000 and katy $9,000. the land account is increased for its implied increase in value before erin is admitted. by what amount is the land account increased?
a. $20,000
b. $24,000
c. $30,000
d. $36,000

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In the jk partnership, jacob's capital is $140,000, and katy's is $40,000. they share income in a 3:...

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