Question
The ABC LLP has the following capital balances at the beginning of the current year: A (50% of Profit and losses) $85,000 B (30%) 60,000
The ABC LLP has the following capital balances at the beginning of the current year: A (50% of Profit and losses) $85,000 B (30%) 60,000 C (20%) 55,000 If D invests $75,000 in cash in the business for a 25% interest (assume that goodwill method is used), what journal entry should be recorded for the goodwill recognition and the entrance of the new partner?
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Fundamentals Of Cost Accounting
Authors: William Lanen
7th Edition
1264100841, 9781264100842
