Question
A partnership has the following capital balances: Arlo (40% of gains and losses) $ 62,000 Band (25%) 70,000 Carlyle (35%) 144,000 David is going to
| A partnership has the following capital balances: |
| Arlo (40% of gains and losses) | $ | 62,000 |
| Band (25%) | 70,000 | |
| Carlyle (35%) | 144,000 | |
| David is going to invest $54,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Davids beginning capital balance? |
a. $54,000.
b. $99,000.
c. $82,800.
d. $118,286.
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Internal Audit Practice From A To Z
Authors: Patrick Onwura Nzechukwu
1st Edition
149874205X, 978-1498742054
