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The capital account balances for Dina & Hanan partnership on January 1, 2018, were as follows: Dina capital $200,000 Hanan capital $100,000 Dina and Hanan
The capital account balances for Dina & Hanan partnership on January 1, 2018, were as follows: Dina capital $200,000 Hanan capital $100,000 Dina and Hanan shared net income and losses in the ratio of 3:2, respectively. The partners agreed to admit Maya to the partnership with a 35% interest in partnership capital and net income. Maya invested $100,000 cash, and no goodwill was recognized. What is the new total balance of the partnership accounts?
A. $300,000 B. $360,000 C. $400,000 D. $340,000
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