The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) 100,000 Tam (20%) 150,000 Tom (50%) 200,000 Tem invests $220,000 in cash, paid to the partnership, for a 20% ownership stake. Using the Goodwill method, what are the goodwill amount to be recognized and Tims capital balance, respectively?

650,000; 220,000;

650,000; 295,000;

430,000; 229,000;

430,000; 295,000;

None of the answers is correct

The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) 100,000 Tam (20%) 150,000 Tom (50%) 200,000 Tem invests $300,000 in cash, paid to the partnership, for a 20% ownership stake. Using the Bonus method, after the transaction what is Tams capital balance?

180,000

300,000

192,000

150,000

None of the answers is correct

The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) 100,000 Tam (20%) 150,000 Tom (50%) 200,000 Tem invests $200,000 in cash, paid to the original partners, for a 20% ownership stake. Using the Goodwill method, what are the goodwill amount to be recognized and Tims capital balance, respectively?

550,000; 200,000;

550,000; 265,000;

350,000; 205,000;

350,000; 265,000;

None of the answers is correct

The Tim-Tam-Tom partnership has the following capital balances and profit and loss allocation: Tim (30% of gains and losses) 100,000 Tam (20%) 150,000 Tom (50%) 200,000 Tem invests $250,000 in cash, paid to the original partners, for a 20% ownership stake. Using the bonus method, after the transaction what is Toms capital balance?

		180,000
		250,000
		255,000
		280,000
		None of the answers is correct