Question
After the admission of a new partner, the total partnership capital increased by the fair value of the new partner's net contributions to the partnership.
After the admission of a new partner, the total partnership capital increased by the fair value of the new partner's net contributions to the partnership. The admission was accounted for
a) Under the bonus method
b)As an investment in the partnership
c) Under the goodwill method
d) As a purchase of interest
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
1259259803, 978-1259259807
