A partnership has the following capital balances: Comprix (35% of gains and losses) . . . . . . . . . . $150,000Heflin (40%) . . . . . . . . . . . .. . . 300,000Kaplan (25%) . . . . . . . . . . . . . 320,000 Mahar is going to pay a total of $200,000 directly to these three partners to acquire a 25 percent ownership interest from each. Goodwill is to be recorded. What is Heflin’s capital balance after the transaction? Choose the correct. a. $225,000b. $234,000c. $312,000d. $360,000
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
A partnership has the following capital balances:
Comprix (35% of gains and losses) . . . . . . . . . . $150,000
Heflin (40%) . . . . . . . . . . . .. . . 300,000
Kaplan (25%) . . . . . . . . . . . . . 320,000
Mahar is going to pay a total of $200,000 directly to these three partners to acquire a 25 percent
ownership interest from each.
a. $225,000
b. $234,000
c. $312,000
d. $360,000
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