RD Formed a Partnership on February 10,20X9

question 40

Multiple Choice

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?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Saint's Burial

Denotes a burial practice or ritual reserved for individuals recognized as saints, often characterized by specific rites and honor in their memory.

Social Structure

The rule-governed relationships-with all their rights and obligations- that hold members of a society together. This includes households, families, associations, and power relations, including politics.

Trance

A state of mind in which a person loses voluntary action and is highly responsive to suggestion or direction, often used in spiritual or therapeutic settings.

Rain

Precipitation in the form of water droplets that fall from clouds in the atmosphere to the Earth's surface.