A partnership has the following capital balances:
Albert (50% of gains and losses) | $ 80,000 |
Barrymore (20%) | 60,000 |
Candroth (30%) | 140,000 |
Danville is going to invest $70,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Danville’s beginning capital balance?
a.$70,000.
b.$90,000.
c.$105,000.
d.$120,000.
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