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How you arrived at the amount of goodwill

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Reference no: EM132514607

Question - On January 1, 2020 C is admitted to the partnership with a 25% interest. C will pay $50,000 to the partnership.

Required -

1. Prepare appropriate journal entry to admit C.

2. If goodwill is to be debited to the partnership, show your calculation of how you arrived at the amount of goodwill in your journal entry.

Reference no: EM132514607

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