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Question - Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of $60,000 and $40,000, respectively. Ramsey is admitted to the partnership and is given a 10% interest by investing $20,000. What is Orton's capital balance after admitting Ramsey?
a. $35,200
b. $16,000
c. $20,000
d. $44,800
lindex company uses a process costing system. the following data are available for one department for october percent
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Williams Inc reports total net income of $130,000 during 2012. This includes $10,000 of income from 5.5% Orange County municipal bonds. Thus the Corporation's taxable income is equal to $120,000.
If mortgage rates rise from 5% to 10% but the expected rate of increase in housing prices rises from 2% to 9%, are people more or less likely to buy houses?
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Explain your thoughts with 400 -500 words on the difference between managerial accounting and financial accounting
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