Bob and Tom form a partnership on January 1, 2019 Bob contributes $50,000, while Tom contributes $100,000 cash and a building worth $200,000. The building is subject to a mortgage of $40,000, which is...

Bob and Tom form a partnership on January 1, 2019 Bob contributes $50,000, while Tom contributes $100,000 cash and a building worth $200,000. The building is subject to a mortgage of $40,000, which is assumed by the partnership. They agree to share profits and losses equally. Tom’s capital account on January 1, 2019, should be:

a. $300,000

b. $280,000

c. $155,000

d. $260,000