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Assume that the capital of an existing partnership is $130,000 and that existing assets...

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Accounting

  1. Assume that the capital of an existing partnership is $130,000 and that existing assets are overvalued by $10,000. If an incoming partner acquires a 25% interest in the partnership for $37,000, goodwill traceable to the incoming partner is:
  1. $2,250.
  2. $4,750.
  3. $3,000.
  4. $9,000.

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