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tributes noncash assets to the partnership, the assets should be recorded When a partner con on the partnership books at their a. original cost b. book values carrying values d. c. fair market values Ann, Betty, and Cal share profits and losses in the ratio of 4:3:2. Their capital balances are $25,000, $15,000, and $10,000, respectfully. If David is admitted to the partnership and no goodwill or bonus is recorded, how much must David invest for a twenty percent interest? a. $10,000 b. $12,500 c. $62,500 d. none of the above The Uniform Partnership Act defines a partnership as an entity a. b. c. d. that is incorporated designed for non-profit use answer a and b none of the above