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How much goodwill will need to be recorded

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Question - Doug, Peter, and Jack have the following capital balances; $150,000, $300,000 and $320,000, respectively. The partners share profits and losses 35%, 40%, and 25% respectively.

Jones is going to pay a total of $220,000 directly to these three partners to acquire a 25% ownership interest in partnership. How much Goodwill will need to be recorded?

Reference no: EM133168671

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