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At year-end, the Circle City partnership has the following capital balances Manning, Capital Gonzalez, Capital Clark, Capital Freeney, Capital $230,000 210,000 180,000 170,000 Profits and
At year-end, the Circle City partnership has the following capital balances Manning, Capital Gonzalez, Capital Clark, Capital Freeney, Capital $230,000 210,000 180,000 170,000 Profits and losses are split on a 3322 basis, respectively. Clark decides to leave the partnership and is paid $194,000 from the business based on the original contractual agreement The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill. After recognizing partnership goodwill, what is Manning's capital balance after Clark withdraws? Multiple Choice 5244,000 $250.000 524200 Next e here to search PRE
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