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  3. the e.n.d. partnership has the following capital b

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 $180,000
Adams 160,000
Fergie 150,000
Gomez 140,000
Total capital $630,000

Answer each of the following independent questions: a. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $183,000 based on the terms of the original partnership agreement. If the goodwill method is applied, what is the capital balance of the remaining three partners? b. Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid$345,000 based on the terms of the original partnership agreement. If the bonus method is applied, what is the capital balance of the remaining three partners?

Capital Balances

A.

Pineda

Adams

Gomez

B.

Adams

Fergie

Gomez

B.

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