Question: Problems 15 and 16 are independent problems based on the following capital account balances and profit and loss percentages (indicated parenthetically): Del Mar invests $270,000

Problems 15 and 16 are independent problems based on the following capital account balances and profit and loss percentages (indicated parenthetically):

Alden (40%) Boyd (40 %)... Carmel (20%). $220,000 160,000 110,000

Del Mar invests $270,000 in cash for a 30 percent ownership interest. The money goes to the original partners. Goodwill is to be recorded.

a. Compute the amount of goodwill to be recorded upon Del Mar’s investment.

b. Del Mar’s beginning capital balance.

Alden (40%) Boyd (40 %)... Carmel (20%). $220,000 160,000 110,000

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