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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 (30%) Donovan (30%) Watkins
Problem 14-6 (Algo) (LO 14-8) A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically: Burks (30%) Donovan (30%) Watkins (40%) $120,000 220,000 320,000 Ranzilla agrees to pay a total of $219.000 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 O $165,000 O $220,000 $195.000 O $213,600 O
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