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R. Ranken purchases 50% of L. Lars's capital interest in the Kim & Lars partnership for...

R. Ranken purchases 50% of L. Lars's capital interest in the Kim & Lars partnership for $20,000. The capital balances of Kim and Lars are $40,000 and $30,000, respectively. Ranken's capital balance after the purchase is:

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Dear student thankyou for using homeworklib.

Please find the answer below.

Statement showing computation:

Capital balance of Lars= $30000

Share Purchased= 50%

Balance of R.Ranken= 30000*0.15= $15000

Balance of R.Ranken is $15000

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