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Answer the following question: a. List the partnership agreement. b. Upon withdrawal from a partnership, Cliff received $14,000 cash in excess of his capital balance.

Answer the following question: a. List the partnership agreement. b. Upon withdrawal from a partnership, Cliff received $14,000 cash in excess of his capital balance. Cliffs share of profits and losses was 20%. Partnership land was undervalued by $50,000. Required: Calculate total partnership goodwill

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