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What amount of goodwill will be recorded

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Question - In the AD partnership, Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. Each of the following question is independent of the others. Refer to the information provided above. David invests $50,000 for a one -fifth interest. What amount of goodwill will be recorded?

Reference no: EM133147230

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