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Tom and Charles admit Molly to their partnership, with Molly paying $ 54,000 more than the book value of her equity in the new business.

Tom and Charles admit Molly to their partnership, with Molly paying $ 54,000 more than the book value of her equity in the new business. Tom and Charles have no formal profit-and-loss-sharing agreement. What effect does admitting Molly to the partnership have on the capital balances of Tom and Charles

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