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How much goodwill would be allocated to l

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Question - 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. C contributes $38,000 to the partnership and the goodwill method is used. How much goodwill would be allocated to L?

a. $8,320

b. $10,400

c. $0

d. $14,400

e. $18,000

Reference no: EM132619398

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