Business, 22.08.2020 20:01, hey9691

Dominic and Morgan are partners. Dominic has a capital balance of $360,000 and Morgan has a capital balance of $265,000. Morgan sells $125,000 of his ownership to Lance. Which of the following is true of the items in the balance sheet? A. Assets will decrease by $125,000.
B. Assets will increase by $125,000.
C. The total equity decreases by $125,000.
D. The total equity remains unchanged.

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Dominic and Morgan are partners. Dominic has a capital balance of $360,000 and Morgan has a capital...