Question: Exercise 9 : Beth, Steph, and Linda have been operating a small gift shop for several years. The partners concluded that the business needed to

Exercise 9: Beth, Steph, and Linda have been operating a small

Exercise

9

: Beth, Steph, and Linda have been operating a small gift shop for several years. The partners concluded that the business needed to expand in order to provide an adequate return to the partners. The following balance sheet is for the partnership prior to the admission of a new partner, Mary.

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160, 000

gift shop for several years. The partners concluded that the business needed

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