Goering zarcus and schmit are partners and share income and

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Goering, Zarcus, and Schmit are partners and share income and loss in a 1:4:5 ratio. The partnership's capital balances are as follows: Goering, $33,000; Zarcus, $139,000; and Schmit, $178,000. Zarcus decides to withdraw from the partnership, and the partners agree to not have the assets revalued upon Zarcus's retirement.

Reference no: EM13588917

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