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Question - The capital balances of the DEF Partnership are as follows:
Danielson $180,000
Eklund 95,000
Forsberg 150,000
Total $425,000
The partners' income sharing ratio is: Danielson, 25%; Eklund, 45%; Forsberg, 30%.
Gustafson joins the partnership by contributing $125,000 to the partnership for a 20% interest in partnership capital. Assume the partnership's identifiable net assets are carried at amounts approximating fair value.
Required - If the goodwill method is used to record the admission of Gustafson, compute Forsberg's capital balance immediately after the addition of Gustafson?
A. $250,000
B. $172,500
C. $225,000
D. $210,000
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