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A ; B and C are partners with a capital balances and profit sharing ratios...

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Accounting

A ; B and C are partners with a capital balances and profit sharing ratios as follows : A (20%) $3000 ;;; B (40%) $3000 ;;;C(40%)$4000 . At that date C retires and he is paid $4600 ; under revaluation approach assume all existing assets are correctly valued except a land with a book value $2500 and a fair value 3500, goodwill should be:
Select one:
a. 500
b. $1000.
c. $1500
d. 100.

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