Anne retires and is paid $80,000 based on an independent appraisal of the business.If the goodwill method is used, what is the capital of the remaining partners?
A) Donald, $55,000; Todd, $60,000
B) Donald, $40,000; Todd, $30,000
C) Donald, $65,000; Todd, $55,000
D) Donald, $15,000; Todd, $30,000
E) Donald, $25,000; Todd, $0
Correct Answer:
Verified
Q43: Max, Jones and Waters shared profits and
Q49: When Danny withdrew from John, Daniel, Harry,
Q55: C contributes $10,000 to the partnership and
Q58: Which of the following could be used
Q59: What is the balance of Donald's capital
Q62: Anne retires and is paid $80,000 based
Q63: Eden contributes $49,000 into the partnership for
Q83: What theoretical argument could be made against
Q86: What events cause the dissolution of a
Q91: By what methods can a person gain
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents