Question
A partnership has the following capital balances: Henry (60% of gains and losses) $ 76,000 Thomas (25%) 90,000 Catherine (15%) 130,000 Anne is going to
A partnership has the following capital balances:
| Henry (60% of gains and losses) | $ | 76,000 |
| Thomas (25%) | 90,000 | |
| Catherine (15%) | 130,000 | |
Anne is going to invest $75,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Annes beginning capital balance?
Multiple Choice
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$126,857
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$88,800
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$111,300
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$75,000
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
