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Use the following to answer questions the statement of financial position of the FAS partnership at December 31, 2008, appears below Partners F, A, and s share profits and losses 30:20:50, respectively. Each question below is independent of the others. Refer to the above information. assume partner 5 retires from the partnership and receives $420,000 for her capital interest. What is F's capital after 5 retires if 5's goodwill is recognized by the partnership $256,000 $280,000 $304,000 $328,000 Refer to the above information. Assume Partner 5 retires from the partnership and receives $420.000 for her capital interest what is A's capital after 5 retires if no goodwill is recognized $460,000 $452,000 $444,000 $436.000 The following information is for the next 2 questions: Waco Company, a U S corporation, acquired machinery for use in its operations from Lyon Manufacturing on October 2, 2003. The purchase price was 60.000 euro, payable in euro on January 15, 2004. Spot rates for euro on various dates are as follows: October 2, 2003 1 euro = $ 1. 05 December 31, 2003 1 euro $1 10 January 15, 2004 1 euro = $1. 08 At 10/02/03, what is the cost of the machinery? $60,000 $63,000 $64,000 $66,000 Refer to the above information. What is Waco's "Foreign Currency Transaction Gain(Loss)" for 2004 $300 gain $300 loss $1, 200 gain $1, 200 loss

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