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alockridge95 alockridge95
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6 years ago
Dominic and Morgan are partners. Dominic has a capital balance of $360,000 and Morgan has a capital balance of $225,000. Morgan sells $125,000 of his ownership to Lance. Which of the following is true of the items in balance sheet?
A) The total equity decreases by $125,000.
B) The total equity remains unchanged.
C) Assets will decrease by $125,000.
D) Assets will increase by $125,000.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
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sudenziasudenzia
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alockridge95 Author
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6 years ago
Thank you
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