The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda 160,000 Adams 140,000 Fergie 130,000 Gomez 120,000 Answer each A. Assume that the partners and losses 3:3:2:2,respectively. Fergie retires and is paid 151,000 based on the terms of the orginal partnership agreement. If the Goodwill method is used;what is the capital of the remaining three partners? B. Assume that the partners share profit and losses 4:3:2:1, respectively. Peneda retires and is paid 305,000 based on the terms of the orginal partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners? (Do not round intermediate calculations. Round to the nearest amounts. A. Pineda capital Balance__________ Adams capital Balance__________ Gomez capital Balance__________ B. Pineda capital Balance__________ Adams capital Balance__________ Gomez capital Balance__________
The E.N.D.
Pineda 160,000
Adams 140,000
Fergie 130,000
Gomez 120,000
Answer each
A. Assume that the partners and losses 3:3:2:2,respectively. Fergie retires and is paid 151,000 based on the terms of the orginal partnership agreement. If the
B. Assume that the partners share
A.
Pineda capital Balance__________
Adams capital Balance__________
Gomez capital Balance__________
B.
Pineda capital Balance__________
Adams capital Balance__________
Gomez capital Balance__________
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