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Ramsey is admitted to the partnership and is given a 10

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

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Accounting Basics: Ramsey is admitted to the partnership and is given a 10

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