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Question 1 (Admission of New Partner) - 11 marks The Felton and Burchell Partnership has partner capital account balances as follows: Felton, Capital, $550,000 and

Question 1 (Admission of New Partner) - 11 marks The Felton and Burchell Partnership has partner capital account balances as follows: Felton, Capital, $550,000 and Burchell, Capita, $200,000. The part...

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