Business, 11.09.2019 03:30 avalonr2003
In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share income in a 3: 1 ratio, respectively. they decide to admit david to the partnership. each of the following questions is independent of the others.
refer to the information provided above. assume that david invests $50,000 for a one-fourth interest. goodwill is to be recorded. the journal to record david's admission into the partnership will include:
a. a credit to cash for $50,000.
b. a debit to goodwill for $7,500.
c. a credit to david, capital for $60,000.
d. a credit to david, capital for $50,000.
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In the ad partnership, allen's capital is $140,000 and daniel's is $40,000 and they share income in...
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