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Determine the amount paid to colter

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Agler, Bates and Colter are partners who share income in a 3:5:2 ratio. Colter, whose capital balance is $150,000, retires from the partnership.

Required:

Problem 1: Determine the amount paid to Colter under each of the following cases:

(1) $50,000 is debited to Agler capital account; the bonus approach is used.
(2) Goodwill of $60,000 is recorded; the partial goodwill approach is used.
(3) $66,000 is credited to Bates' capital account; the total goodwill approach is used

Reference no: EM132840808

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