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Required information Cleary, Wasser, and Nolan formed a partnership on January 1, 2017, and made capital contributions of $100,000 (Cleary). $150,000 (Wasser), and $200,000 (Nolan),

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Required information Cleary, Wasser, and Nolan formed a partnership on January 1, 2017, and made capital contributions of $100,000 (Cleary). $150,000 (Wasser), and $200,000 (Nolan), respectively. With respect to the division of income, they agreed to the following: (1) interest of an amount equal to 10% of the that partner's beginning capital balance for the year, (2) annual compensation of $10,000 to Wasser, and (3) the remainder of the income or loss to be split among the partners in the following percentages: (a) 20% for Cleary, (b) 40% for Wasser, and (c) 40% for Nolan. Net income was $150,000 in 2017 and $180,000 in 2018. Each partner withdrew $1,000 for personal use every month during 2017 and 2018 Jell and Dell were partners with capital balances of $600 and $800, and an income-sharing ratio of 23. They admitted Zell with a 30% interest in the partnership, and the total amount of goodwill credited to the original partners was $700. What amount did Zell contribute to the business? Multiple Choice 0 $900 O $560 O S600

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