HW Ch Bankruptcy Reorganization and Partn
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The END partnership has the following capital balances as of the end of the current year:
Pineda
Adams
Fergie
Gomez
Total capital
$
$
Answer each of the following independent questions:
Required:
a Assume that the partners share profits and losses ::: respectively. Fergie retires and is paid $ based the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners?
b Assume that the partners share profits and losses ::: respectively. Pineda retires and is paid $ based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? Note: Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.
tabletableCapitalBalancea Pineda,AdamsGomezb Adams,FergieGomez
