Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a ; b and c are partners with a capital balances a

A ; B and C are partners with a capital balances and profit sharing ratios...

60.1K

Verified Solution

Question

Accounting

A ; B and C are partners with a capital balances and profit sharing ratios as follows : A (20%) $3000 ;;; B (40%) $3000 ;;;C(40%)$4000 . At that date C retires and he is paid $4600 ; under revaluation approach assume all existing assets are correctly valued except a land with a book value $2500 and a fair value 3500, goodwill should be:
Select one:
a. 500
b. $1000.
c. $1500
d. 100.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

What is the bonding functional group and elution order of the following: propyl acetate, butyl acetate,...

Physics
1.2K views

Two persons of masses 55 kg and 65 kg respectively are at the opposite ends...

Basic Math
1.2K views

125 8x Use the following factorization formulas involving cubes to factor the expression Factorizations with...

Basic Math
1.2K views

In camellia plants flower color is controlled by a single gene with codominant alleles A...

Calculus
1.2K views

Find dy/dx for the indicated function y.y = 3^x + e

Accounting
1.2K views

This question: 1 point(s) possible Resume later Submit quia...

Accounting
1.2K views

The following shareholders' equity accounts are reported by Blossom Inc. on January 1: Common shares...

Accounting
1.2K views

Piper Corporations standards call for 3,100 direct labor-hours to produce 1,550 units of product. During...

Accounting
1.2K views

Al realizar un anlisis vertical, la base de los ingresos por ventas en el estado...

Accounting
1.2K views

Monsoon Corporation purchased a patent for $135,000 on September 1, 2018. It had a useful...

Accounting
1.2K views

Please answer whether all of them are either understated, overstated, or no effect. Thank you!...

Accounting
1.2K views

V D DO 79% 15:44 am Cullumber Company had the following trial balance at June...