12. Cobb, Inc. a partner in the TLC Partnership, assigns its partnership interest to Mr. Bean, who is not made a partner. After the assignment, Bean asserts the rights to I. Participate in management decisions of the partnership II Cobb's share of TLC's profits. Mr. Bean is correct as to which of these rights? A) I only B) II only. C) I and II. D) Neither I nor II 13. Purple and Orange are partners with capital balances of $50,000 and $90.000, respectively. They agree to admit Ramika to the part Assuming the partners wish to recognize an intangible asset, how much Goodwill shoul due to Ramika's admission? nership as a 1/3 partner once she pays $80,000 into the partnership d be reported A) $20.000 B) $30.000 C) $40.000 D) $80,000. 14. Steve and Olivia to admit Julia as are partners with capital balances of $90,000 and $50,000, respectively. They agree a partner with a 25% interest upon payment of $60,000. Assuming that the partners do not want to recognize an intangible asset. What total an ount should be recorded as a bonus to Steve and Olivia? A) $30,000 B) $10.000 C) $15.000 D) $40,000