RD formed a partnership on February 10,20X9.R contributed cash of $150,000,while D contributed inventory with a fair value of $120,000.Due to R's expertise in selling,D agreed that R should have 60 percent of the total capital of the partnership.R and D agreed to recognize goodwill.What is the total capital of the RD partnership and the capital balance of R after the goodwill is recognized? 
Definitions:
Accounting Equation
A fundamental equation in accounting that states that assets equal liabilities plus owner's equity.
Accounts Payable-Marigold
This term refers to the money owed by a business to its creditors specifically related to marigold transactions, which might include purchases of marigold supplies or services.
Debit Memo
A document issued by a buyer to a seller to adjust or correct a previously issued invoice.
Multiple-Step Income Statement
A multiple-step income statement is a detailed financial statement that separates operating revenues and expenses from non-operating ones, providing a thorough insight into a company's financial activities.
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