In the rst partnership, ron's capital is $80,000, stella's is $75,000, and tiffany's is $50,000. they share income in a 3: 2: 1 ratio, respectively. tiffany is retiring from the partnership. each of the following questions is independent of the others.
refer to the above information. tiffany is paid $56,000, and all implied goodwill is recorded. what is the total amount of goodwill recorded?
a. $0
b. $6,000
c. $30,000
d. $36,000

Option (D) is correct.

Explanation:

Given that,

Ron's capital = $80,000

Stella's = $75,000

Tiffany's = $50,000

Income sharing ratio = 3:2:1

Tiffany is retiring from the partnership

Amount paid to Tiffany = $56,000

Bonus = Amount paid to Tiffany - Tiffany's capital

          = $56,000 - $50,000

          = $6,000

Above bonus is 1/6th of goodwill.

Therefore, the total amount of goodwill recorded would be:

Goodwill =

              = $36,000

the earnings of a typical investor is around $1,000,000 to $10,000,000

hope this !

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