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A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically:...

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Accounting

A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically: Burks (35%) $ 280,000 Donovan (40%) 300,000 Watkins (25%) 170,000 Ranzilla agrees to pay a total of $245,000 directly to these three partners to acquire a 25 percent ownership interest from each. The partnership will record goodwill based on the new partner's payment. What is Donovans capital balance after the transaction?

  • $398,000

  • $392,000

  • $294,000

  • $225,000

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