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Use the following information for questions 3 and 4. In the ABC partnership (to which Daniel seeks admittance), the capital balances of Albert, Bert, and
Use the following information for questions 3 and 4. In the ABC partnership (to which Daniel seeks admittance), the capital balances of Albert, Bert, and Connell, who share income in the ratio of 5:3:2 are: Albert $500,000 Bert 300,000 Connell 200,000 3. Based on the preceding information, if no goodwill or bonus is recorded, how much should Daniel invest for a 25 percent interest? (4 points) 4. Based on the preceding information, what amount of goodwill will be recorded if Daniel invests $400,000 for a one-third interest? (4 points)
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