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The ABCD Partnership has the following balance sheet at January 1, 2020, prior to the admission of new partner, Fredrick.
| Cash and current assets | $ | 39,000 | Liabilities | $ | 52,000 |
| Land | | 234,000 | Abe, capital | | 26,000 |
| Building and equipment | | 130,000 | Bob, capital | | 52,000 |
| | | | Carl, capital | | 117,000 |
| | | | David, capital | | 156,000 |
| Total | $ | 403,000 | Total | $ | 403,000 |
Fredrick contributes $50,000 into the partnership for a 30% interest. The four original partners share profits and losses equally.
Using the bonus method, determine the balances for each of the five partners after Fredrick joins the partnership.
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