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Question - The capital account for the partnership of Neri and Que at Oct. 31, 2021 follows:
Neri, Capital 80,000
Que, Capital 40,000
Total 120,000
The partners share profits and losses in the ratio of 6:4, respectively. The partnership is in desperate need of cash, and the partners agreed to admit Sean as a partner with a 1/3 interest in the capital and profits and losses upon her investment of 30,000.
Immediately after admission, what should be the capital balances of Neri, Que, and Sean, respectively, assuming bonus is not to be recognized.
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