A partnership has the following capital balances:
|
Albert (50% of gains and losses) |
$80,000 |
|
Barrymore (20%) |
60,000 |
|
Candroth (30%) |
140,000 |
Danville is going to invest $70,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Danville’s beginning capital balance?
a. $70,000.
b. $90,000.
c. $105,000.
d. $120,000.