Dunn and Grey are partners with capital account balances of ₱60,000 and ₱90,000, respectively. They agree to admit Zorn as a partner with a one-third interest in capital and profits for an investment of ₱100,000 after revaluing the assets of Dunn and Grey. Goodwill to the original partners should be (use PFRSs in answering this problem) A. 66,667 B. 33,333 C. 0 D. 50,000
Dunn and Grey are partners with capital account balances of ₱60,000 and ₱90,000, respectively. They agree to admit Zorn as a partner with a one-third interest in capital and profits for an investment of ₱100,000 after revaluing the assets of Dunn and Grey. Goodwill to the original partners should be (use PFRSs in answering this problem) A. 66,667 B. 33,333 C. 0 D. 50,000
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter14: Partnerships And Limited Liability Entities
Section: Chapter Questions
Problem 22P
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Question
Dunn and Grey are partners with capital account balances of ₱60,000 and ₱90,000, respectively. They agree to admit Zorn as a partner with a one-third interest in capital and profits for an investment of ₱100,000 after revaluing the assets of Dunn and Grey. Goodwill to the original partners should be (use PFRSs in answering this problem)
A. 66,667
B. 33,333
C. 0
D. 50,000
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