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Problem D-4A Partner withdrawal and admission LO P3 The following information applies to the questions displayed below Meir, Benson, and Lau are partners and share

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Problem D-4A Partner withdrawal and admission LO P3 The following information applies to the questions displayed below Meir, Benson, and Lau are partners and share income and loss in a 32:5 ratio. The partnership's capital balances are as follows: Meir, $118,000; Benson, $79,000; and Lau, $203,000. Benson decides to withdraw from the partnership, and the partners agree not to have the assets revalued upon Benson's retirement

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