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What is the effect on total assets liabilities and equity

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What is the effect on total assets, liabilities, and equity of a partnership when a partner is admitted by purchasing an existing partner's interest? Why?

What is the effect on the existing partners' capital accounts if a bonus is paid to a new partner upon admission into the partnership?

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Accounting Basics: What is the effect on total assets liabilities and equity

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Accounting Basics: What is the effect on total assets liabilities and equity

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