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Tina Ward decided to withdraw from a partnership in which she had a 40% interest...

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Accounting

Tina Ward decided to withdraw from a partnership in which she had a 40% interest in profits and losses. This event resulted in the recognition of goodwill and a $100,000 payment to Ward in final settlement. The sum of the partners capital balances before recognition of goodwill and the withdrawal of Ward was $200,000. After the withdrawal of Ward, the sum of the partners capital balances (excluding goodwill) was $120,000. What was the total goodwill?

$200,000

$120,000

$50,000

$20,000

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