Smith and Mills are partners who share income in the ratio of 2:1 and who have capital balances of $65,000 and $35,000 respectively. If Harris, with the consent of Mills, acquired ½ of Smith’s interest for $40,000, for what amount would Harris’ capital account be credited?

Ray gives his son, mason, three bowls. these bowls have the same capacity, but each one differs slightly in its shape and size. ray tells his son that one of the bowls can hold more liters of oil than the other two bowls. mason points out that all the bowls, though may appear different in size and shape, can store the same volume of oil. in this case, ray was most likely testing mason's concept of