The payment made to Clark beyond his capital account was for Clark 's share of previously unrecognized goodwill After recognizing partnership goodwill, what is Manning 's capital balance after Clark withdraws a $133,000 b $137,500 c $140,000 d $145,000 ...

D Clark receives an additional 10000 Because Clark receives 20 percent of pr ...

The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill.

Question:

The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill. After recognizing goodwill, what is Manning's capital balance after Clark withdraws?
a. $133,000
b. $137,500
c. $140,000
d. $145,000
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...