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What is the remaining balance of the remaining three partner

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The E.N.D. partnership has the following end capital balances as the end of the current year

Pineda $140,000

Adams $120,000

Fergie $110,000

Gomez`$100,000

Question A. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $140,000 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?

Question B. Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $340,000based on the terms of the original agreement. If the bonus method is used, what is the remaining balance of the remaining three partners?

Reference no: EM132648393

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