Question
A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically: Henry (60%) $ 52,000 Thomas (20%) 60,000 Catherine (20%) 124,000
A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically:
| Henry (60%) | $ | 52,000 |
| Thomas (20%) | 60,000 | |
| Catherine (20%) | 124,000 | |
Anne is going to invest $80,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Annes beginning capital balance?
Multiple Choice
A. $70,800
B. $94,800
C. $80,000
D. $101,143
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Construction Accounting And Financial Management
Authors: Steven J. Peterson
1st Edition
0131109391, 978-0131109391
