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Question 2 (3.5 points) At year-end, the Circle City partnership has the following capital balances Manning, Capital: $130.000 Gonzalez, Capital: $110,000 Clark, Capital: $ 80,000
Question 2 (3.5 points) At year-end, the Circle City partnership has the following capital balances Manning, Capital: $130.000 Gonzalez, Capital: $110,000 Clark, Capital: $ 80,000 Freeney, Capital: $ 70,000 Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $90,000 from the business based on the original contractual agreement. Using the goodwill method, what is Manning's capital balance after Clark withdraws? $137.500 $145.000 $140.000 $133.000
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