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What is neary capital balance after kansas investment

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Question - The capital balance for Bolcar is $110,000 and for Neary is $40,000. The two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary). Kansas invests $50,000 in cash into the partnership for a 30 percent ownership. The bonus method will be used. What is Neary's capital balance after Kansas's investment?

A.35,000

B. 37,000

C. 40,000

D. 43,000

Please show workout and explain.

Reference no: EM131812851

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