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Hank, Ian, and John have capital balances of $50,000, $60,000 and $70,000 respectively when Ian and John agree to buy Hanks share of the business
Hank, Ian, and John have capital balances of $50,000, $60,000 and $70,000 respectively when Ian and John agree to buy Hanks share of the business using partnership assets. The current profit or loss ratio is 2:3:4, respectively. Hank is paid $43,000. What will be the balance in Ian's capital account once the transaction has been recorded? Select answer from the options below $57,000 $63,000 $63,500 $60,000
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