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Based on their ending capital balances. A, B, and Care partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit
Based on their ending capital balances. A, B, and Care partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the ABC partnership 30%, 20%, and 50%, respectively, when they agree to admit D for a 20% interest. D contributes $10,000 to the partnership and the goodwill method is used. What will be the result of the goodwill calculation? Goodwill of $15,000; split among the original partners. Goodwill of $15,000; all to D. Goodwill of $15,000; split among all four partners: A, B, C, and D. Goodwill of $12,000; all to D. A and B were partners with capital balances of $60,000 and $80,000 and an income sharing ratio of 2:3. They admitted C to a 30% interest in the partnership, and the total amount of goodwill credited to the original partners was $70,000. What amount did C contribute to the business? $90,000. $56,000. $60,000. $59,000
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