Question
In the ABC partnership (to which Y seeks admittance), the capital balances of Albert 500,000, Bert300,000, and Connell 200,000, who share income in the ratio
In the ABC partnership (to which Y seeks admittance), the capital balances of Albert 500,000, Bert300,000, and Connell 200,000, who share income in the ratio of 5:3:2 .
Based on the preceding information, if no goodwill or bonus is recorded, how much should Y invest for a 20 percent interest?
A. $400,000
B. $200,000
C. $300,000
D. $250,000
Select one: A. 400000 B. 250000 C. 200000 D. 300000
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The Development Of The American Public Accounting Profession
Authors: T.A. Lee
1st Edition
0415403944, 9780415403948
