Question
The capital balances of the DEF Partnership are as follows: Danielson $180,000 Eklund 95,000 Forsberg 150,000 Total $425,000 The partners' income sharing ratio is: Danielson,
The capital balances of the DEF Partnership are as follows:
| Danielson | $180,000 |
| Eklund | 95,000 |
| Forsberg | 150,000 |
| Total | $425,000 |
The partners' income sharing ratio is: Danielson, 25%; Eklund, 45%; Forsberg, 30%. Gustafson joins the partnership by contributing $90,000 to the partnership for a 20% interest in partnership capital. Assume the partnership's identifiable net assets are carried at amounts approximating fair value. If the goodwill method is used to record the admission of Gustafson, goodwill will be recorded on the books of the partnership in the amount of:
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Audit Customer Satisfaction Marketing Added Value
Authors: Cindy E. Cosmas
1st Edition
089413373X, 978-0894133732
