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Business, 24.10.2019 23:43 joej0778

In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share
income in a 3: 1 ratio, respectively. they decide to admit david to the partnership.
refer to the information provided above. allen and daniel agree that some of the inventory
is obsolete. the inventory account is decreased before david is admitted. david invests $40,000
for a one-fifth interest. what are the capital balances of allen and daniel after david is
admitted into the partnership?

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In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share
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