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What is Landry capital balance after Neumark admittance

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Question - Elkins and Landry are partners who share income and losses in the ratio of 3:2, respectively. On August 31, their capital balances were: Elkins, $132000 and Landry, $128000. On that date, they agree to admit Neumark as a partner with a one-third capital interest. If Neumark invests $109000 in the partnership, what is Landry's capital balance after Neumark's admittance?

a. $122400

b. $123000

c. $128000

d. $120400

Reference no: EM132627487

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