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1. (25 pts) Shirly, Curley, and Burley are partners sharing profits and losses 40/40/20 respectively. Their capital balances are: Shirley Curley Burley 175,000 300,000 275,000

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1. (25 pts) Shirly, Curley, and Burley are partners sharing profits and losses 40/40/20 respectively. Their capital balances are: Shirley Curley Burley 175,000 300,000 275,000 750,000 c. Assume instead, Furley puts into the partnership $350,000 of cash and is awarded a 40% interest. Record the entry of Furley using the goodwill method

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