Benson and orton are partners who share income in the ratio

Reference no: EM13482469

Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of $60,000 and $40,000 respectively. Ramsey is admitted to the partnership and is given a 40% interest by investing $20,000. What is Benson's capital balance after admitting Ramsey?

a. $71,200

b. $20,000

c. $24,000

d. $48,800

Reference no: EM13482469

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