Peter, Roberts, and Dana Have the Following Capital Balances; $80,000

question 57

Multiple Choice

Peter, Roberts, and Dana have the following capital balances; $80,000, $100,000 and $60,000, respectively.The partners share profits and losses 20%, 40%, and 40% respectively.Roberts retires and is paid $160,000 based on an independent appraisal of the business.If the goodwill method is used, what is the capital balance of Dana?

• A) $ 20,000.
• B) $ 60,000.
• C) $110,000.
• D) $120,000.
• E) $230,000.

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Definitions:

Identification

The process of recognizing or establishing the identity of a person or thing.

Medication Error

Any preventable event that may cause or lead to inappropriate medication use or harm to a patient while the medication is in the control of the healthcare professional, patient, or consumer.

Inhaler Refill

The process of obtaining more medication for an inhaler device, commonly used by individuals with respiratory conditions like asthma.

Puffs

In medical contexts, puffs refer to the actuation of an aerosolized medication delivered via an inhaler, commonly used in respiratory conditions such as asthma.