Business, 05.09.2019 21:10 woodsjnjoseph3

P, l, and o are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the plo partnership 30%, 20%, and 50%, respectively, when they agree to admit c for a 20% interest. assuming c contributes directly to the partnership, answer the following questions: required (show all your calculations): (1) if c is to contribute an amount equal to his book value share of the new partnership, how much should c contribute? (4 points)(2) c contributes $38,000 to the partnership and the bonus method is used. what amount will be credited for c's beginning capital balance? (4 points)(3) if c contributes $40,000 to the partnership and the goodwill method is used, what amount will be debited for goodwill? (4 points)(4) c contributes $10,000 to the partnership and the goodwill method is used. what will be the result of the goodwill calculation? (4 points)(5) c contributes $12,000 to the partnership and the bonus method is used. what amount will be credited for c's beginning capital balance? (4 points)

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P, l, and o are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the...

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