The ABCD Partnership has the following balance sheet at January 1, 2020, prior to the admission of new partner, Eden.

Cash and current assets	$39,000		Liabilities	$52,000
Land	234,000		Adams, capital	26,000
Building and equipment	130,000		Barnes, capital	52,000
			Cordas, capital	117,000
			Davis, capital	156,000
Total	403,000		Total	$403,000

Eden contributed $124,000 in cash to receive a 20% interest in the partnership. Goodwill was to be recorded. The four original partners shared all profits and losses equally.

A. Assume that Eden was admitted to the partnership by contributing directly to the partnership

a. Goodwill recognized was: $ __________

b. The journal entry to recognize goodwill

c. After allocating the goodwill to each of the original four partners, their partnership capital balances are

Adams, Capital
Barnes, Capital
Cordas, Capital
Davis, Capital

d. The journal entry to record Eden's capital account balance is:

B. Assume that Eden was admitted to the partnership by contributing directly to the partners

Goodwill recognized was: $ __________