In the ABC Partnership (To Which Daniel Seeks Admittance),the Capital

question 22

Multiple Choice

In the ABC partnership (to which Daniel seeks admittance) ,the capital balances of Albert,Bert,and Connell,who share income in the ratio of 5:3:2 are:

-Based on the preceding information,if no goodwill or bonus is recorded,how much should Daniel invest for a 20 percent interest?

• A)$400,000
• B)$200,000
• C)$300,000
• D)$250,000

---

Definitions:

Clean Water Act

U.S. federal law that regulates the discharge of pollutants into the nation's surface waters, including lakes, rivers, streams, and coastal areas.

Wetlands

Areas where water covers the soil, or is present either at or near the surface of the soil all year or for varying periods of time during the year, including swamps, marshes, and bogs.

Community Right-to-Know Act

U.S. federal law that requires industries to report storage, use, and releases of hazardous substances to inform community safety and health.

Chemical Hazards

Pertains to any chemical substance that can cause harm to individuals or the environment when improperly managed, stored, or used.