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Problem 14-6 (Algo) (LO 14-8) A partnership has the following capital balances with partners' profit and loss percentages Indicated parenthetically: Burks (40%) Donovan (30%)
Problem 14-6 (Algo) (LO 14-8) A partnership has the following capital balances with partners' profit and loss percentages Indicated parenthetically: Burks (40%) Donovan (30%) Watkins (30%) $100,000 200,000 300,000 Ranzilla agrees to pay a total of $200,000 directly to these three partners to acquire a 25 percent ownership Interest from each. The partnership will record goodwill based on the new partner's payment. What is Donovan's capital balance after the transaction? Multiple Choice $195,000 $175,000 $200,000 $150,000
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