Benson and orton are partners

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Reference no: EM13954553

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 10% interest by investing $20,000.

What is Orton's capital balance after admitting Ramsey?

a. $44,800

b. $35,200

c. $20,000

d. $16,000

Reference no: EM13954553

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