Question
A partnership has the following capital balances: Comprix (30% of gains and losses) $ 160,000 Heflin (30%) 260,000 Kaplan (40%) 360,000 Mahar is going to
A partnership has the following capital balances:
| Comprix (30% of gains and losses) | $ | 160,000 |
| Heflin (30%) | 260,000 | |
| Kaplan (40%) | 360,000 | |
Mahar is going to pay a total of $259,000 directly to these three partners to acquire a 25 percent ownership interest from each. Goodwill is to be recorded. What is Heflins capital balance after the transaction?
Multiple Choice
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$260,000
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$195,000
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$235,000
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$252,600
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Audits
Authors: Arthur E Cutforth
1st Edition
1017097445, 978-1017097443
