On November 30, capital balances are Roses $305000, Ellis $249000 and Gise $249000. The income...
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On November 30, capital balances are Roses $305000, Ellis $249000 and Gise $249000. The income ratios are 20%, 20% and 60%, respectively. Roses decides to retire from the partnership. The partnership pays Roses $348000 cash for her partnership Interest. After Rose's retirement, what is the balance of Ellis's capital account? $249000 $326500 $239000 $238250
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