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In the JK Partnership,Jacob's Capital Is $140,000,and Katy's Is $40,000

Question 67

Multiple Choice

In the JK partnership,Jacob's capital is $140,000,and Katy's is $40,000.They share income in a 3:2 ratio,respectively.They decide to admit Erin to the partnership.Each of the following questions is independent of the others.
-Refer to the information provided above.Erin invests $52,000 for a one-fifth interest.What amount of goodwill will be recorded?


A) $7,000
B) $28,000
C) $50,000
D) $80,000

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