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R. Gary purchases a 30% interest for $60000 when the Hise, Poole, Lagos partnership has total capital of $545400. Prior to the admission of Gary,
R. Gary purchases a 30% interest for $60000 when the Hise, Poole, Lagos partnership has total capital of $545400. Prior to the admission of Gary, each partner has a capital balance of $181800. Each partner relinquishes an equal amount of his capital balance to Gary. What will be the amount to be relinquished by Lagos ?
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
0132423502, 978-0132423502
