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2. On November 30, capital balances are Howe $90,000, Doss $75,000 and Newlin $75,000. The income ratios are 20%, 20% and 60%, respectively. Howe decides
2. On November 30, capital balances are Howe $90,000, Doss $75,000 and Newlin $75,000. The income ratios are 20%, 20% and 60%, respectively. Howe decides to retire from the partnership. The partnership pays Howe $100,000 cash for her partnership interest. After Howe's retirement, what is the balance of Newlin's capital account? (2 Points) 97,500 75,000 71,250 72,500
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Auditing The Modern Hospital
Authors: B. J Hall
1st Edition
0130516724, 978-0130516725
