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On November 30, capital balances are Matthew $733000, Lagassi $595000 and Kelly $595000. The income ratios are 20%, 20% and 60% respectively. Matthew decides to
On November 30, capital balances are Matthew $733000, Lagassi $595000 and Kelly $595000. The income ratios are 20%, 20% and 60% respectively. Matthew decides to retire from the partnership. In order for Lagassi and Kelly to have equal capital interests after the retirement of Matthew, how much partnership cash would have to be paid to Matthew for her partnership interest? $0. Any amount paid to Matthew will cause Lagassi and Kelly to still have equal capital balances. $733000. $641000
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