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What the balance in paul capital account immediately

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Question - Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio (in ratio form: Caitlin, 3/10; Chris, 4/10; Molly, 3/10). The partnership's capital balances are Caitlin, $120,000; Chris, $80,000; and Molly, $100,000. Paul is admitted to the partnership on July 1 with a 20% equity and invests $60,000. What the balance in Paul capital account immediately after his admission?

A. $160,000

B. $72,000

C. $92,000

D. $68,000

Reference no: EM133064377

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