Question: Saved You're a reverse burglar, yo Help Wallace and Simpson formed a partnership with Wallace contributing $80,000 and Simpson contributing $60,000. Their partnership agreement calls

Saved You're a reverse burglar, yo Help Wallace and Simpson formed a partnership with Wallace contributing $80,000 and Simpson contributing $60,000. Their partnership agreement calls for the income foss) division to be based on the ratio of capital investments, Wallace sold one-half of his partnership interest to Prince for $75,000 when his capital balance was $96,000. The partnership would record the admission of Prince into the partnership as: Save & Exit 16 Multiple China

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