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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 ____.

a. $2,250

b. $4,750

c. $3,000

d. $5,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945033

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