The E.N.D. partnership has the following capital balances as of the end of the current...
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Accounting
The E.N.D. partnership has the following capital balances as of the end of the current year:
Pineda
$
230,000
Adams
190,000
Fergie
160,000
Gomez
140,000
Total capital
$
720,000
a.
Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $190,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners?
Capital Balance
Pineda
$
Adams
$
Gomez
$
b.
Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $280,000 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? (Do not round your intermediate calculations. Round your answers to the nearest dollar amounts.)
Capital Balance
Adams
$
Fergie
$
Gomez
$
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