A partnership has the following capital balances: Comprix (40% of gains and losses) $ 180,000 Heflin (30%) 280,000 Kaplan (30%) 380,000 Mahar is going to pay a total of $280,000 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? a. $255,000 b. $280,000 c. $273,000 d. $210,000
A partnership has the following capital balances: Comprix (40% of gains and losses) $ 180,000 Heflin (30%) 280,000 Kaplan (30%) 380,000 Mahar is going to pay a total of $280,000 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? a. $255,000 b. $280,000 c. $273,000 d. $210,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A
| Comprix (40% of gains and losses) | $ 180,000 |
| Heflin (30%) | 280,000 |
| Kaplan (30%) | 380,000 |
Mahar is going to pay a total of $280,000 directly to these three partners to acquire a 25 percent ownership interest from each.
a. $255,000
b. $280,000
c. $273,000
d. $210,000
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