In the ABC Partnership (To Which Daniel Seeks Admittance), the Capital

question 7

Multiple Choice

In the ABC partnership (to which Daniel seeks admittance) , the capital balances of Albert, Bert, and Connell, who share income in the ratio of 5:3:2 are: Based on the preceding information, if no goodwill or bonus is recorded, how much should Daniel invest for a 20 percent interest?

• A) $400,000
• B) $200,000
• C) $300,000
• D) $250,000

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