Use the Following Information to Answer the Question(s) Below

question 5

Multiple Choice

Use the following information to answer the question(s) below.

A summary balance sheet for the Lemon, Mango, and Nobb partnership appears below. Lemon, Mango, and Nobb share profits and losses in a ratio of 2:3:5, respectively.
The partners agree to admit Oran for a one-fifth interest. The fair market value of partnership land is appraised at $200,000 and the fair market value of inventory is $175,000. The assets are to be revalued prior to the admission of Oran and there is $30,000 of goodwill that attaches to the old partnership.

-By how much will the capital accounts of Lemon,Mango,and Nobb increase,respectively,due to the revaluation of the assets and the recognition of goodwill?

• A)The capital accounts will increase by $50,000 each.
• B)The capital accounts will increase by $60,000 each.
• C)$36,000,$54,000,and $90,000
• D)$40,000,$50,000,and $60,000

Understand the implications of adolescent development on social relationships and self-regulation.

Examine the role of peers and social interactions in adolescent development.

Analyze cognitive development stages according to Piaget and their implications on learning and reasoning.

Consider the impact of psychosocial crises throughout human development according to Erikson.

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Definitions:

Alertness

The ability some people have to identify opportunities.

Social Life

The part of an individual's time that is spent engaging with others, often in leisure activities.

Opportunities Exist

Refers to the presence of chances or situations favorable for achieving certain goals or starting new ventures.

Independent Of Entrepreneurs

Describes concepts, processes, or entities that operate or exist separately and not contingent on the actions or existence of entrepreneurs.