REFERENCE: Ref.14_04 Peter,Roberts,and Dana Have the Following Capital Balances;$80,000,$100,000 and $60,000 Respectively.The

question 17

Multiple Choice

REFERENCE: Ref.14_04
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.
-What is the total partnership capital after Roberts retires receiving $160,000 and using the goodwill method?

• A)$20,000.
• B)$60,000.
• C)$80,000.
• D)$120,000.
• E)$230,000.