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In the AD partnership,Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio,respectively.They decide to admit David to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.David invests $50,000 for a one-fifth interest.What amount of goodwill will be recorded?
Q3: Refer to the above information.Assuming the U.S.dollar
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