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please show all work Lear is to become a partner in WS partnership by paying $63,000 in cash to the business. At present, the capital
please show all work
Lear is to become a partner in WS partnership by paying $63,000 in cash to the business. At present, the capital balance for Hamlet is $57,000 and for MacBeth is $55,000. Hamlet and MacBeth share profits on a 3:2 basis. Lear is acquiring 30 percent of the new partnership. a) If the goodwill method is applied, what will the three capital balances be following the payment by Lear? Hamlet: A) MacBeth: A Lear: b) If the bonus method is applied, what will the three capital balances be following the payment by Lear? Hamlet: A MacBeth: A Lear: / Step by Step Solution
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