Question
Marlin and Nemo are partners in Under the Sea Partnership (to which Dory seeks admittance). The capital balances of Marlin and Nemo, who share income
Marlin and Nemo are partners in Under the Sea Partnership (to which Dory seeks admittance). The capital balances of Marlin and Nemo, who share income in the ratio of 8:2 are:
| Marlin | $800,000 |
| Nemo | 200,000 |
What amount of goodwill will be recorded if Dory invests $450,000 for a thirty percent (30%) interest?
| A. | $0 | |
| B. | $10,000 | |
| C. | $50,000 | |
| D. | $100,000 |
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The Audit Process Principles Practice And Cases
Authors: Iain Gray, Stuart Manson
3rd Edition
1861529465, 9781861529466
