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REFERENCE: Ref.14_04 Peter,Roberts,and Dana Have the Following Capital Balances;$80,000,$100,000 and $60,000 Respectively.The

Question 71

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REFERENCE: Ref.14_04
Peter,Roberts,and Dana have the following capital balances;$80,000,$100,000 and $60,000 respectively.The partners share profits and losses 20%,40%,and 40% respectively.
-Roberts retires and is paid $160,000 based on the terms of the original partnership agreement.If the goodwill method is used,what is the capital balance of Peter?


A) $20,000.
B) $60,000.
C) $110,000.
D) $120,000.
E) $230,000.

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