The capitial accounts of johnathan faber and faheem ahmad

Reference no: EM13602404

The capitial accounts of Johnathan Faber and Faheem Ahmad have balances of $114,000 and $82,000, respectively. Lauren Wells and Rachel Lee are to be admitted to the partnership. Wells buys 1/5th of Faber's interest for $26,200 and 1/4th of Ahmad's interest for $18,000. Lee contributes $27,800 cash to the partnership, for which she is to receive an ownership equity of $27,800.What are the capital balances of each partner after the admission of the new partners?

Reference no: EM13602404

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