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Item 14

Required information

Required information

SB In the LMN partnership, Lynn's capital is...

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In the LMN partnership, Lynn's capital is $60,000, Marty's is $80,000, and Nancy's is $70,000. They share income in a 4:3:3 ratio, respectively. Nancy is retiring from the partnership. Each of the following questions is independent of the others.

TB MC Qu. 15-39 Refer to the above information. Nancy is...

Refer to the above information. Nancy is paid $76,000, and all implied goodwill is recorded. What is the total amount of goodwill recorded?

Multiple Choice

• $20,000

• $14,000

• $6,000

• $0