The E. N. D. partnership has the following capital balances as of the end of the current year:
Pineda $210,000
Adams $190,000
Fergie $180,000
Gomez $170,000
Total capital $750,000
a. Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $211,000 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 $335,000 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 final answers to the nearest dollar amounts.)
Capital Balance
Adams
Fergie
Gomez
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The E. N. D. partnership has the following capital balances as of the end of the current year: Pineda $210,000 Adams $190,000 Fergie ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
When the marginal product of an input declines as the quantity of that input increases, the production function exhibits?
Answers (1)
Your employer emailed a question and to all employees to gather data on employee satisfaction what type of research is your company doing
Answers (1)
Kent and Craig, who want to start a horse-training business, spoke to an insurance agent about getting insurance to cover potential liabilities, but were told that they could not get liability insurance because of the high risk nature their proposed
Answers (1)
A business selling a single service or product needs to indicate as such on the Item List or in the Easy Step Interview.
Answers (1)
Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 58,700 units of its sole product. Magpie desires a profit equal to a 21% rate of return on invested assets of $605,000.
Answers (1)
New Questions in Business
The person who receives financial protection from a life insurance plan is called a what?
Answers (1)
In 1990, Roche, a Swiss pharmaceutical company, initially invested $2.1 billion to purchase a controlling interest in the biotech startup Genentech.
Answers (1)
Five years ago, Weed Go Inc. earned $1.50 per share. Its earnings this year were $3.20. What was the growth rate in earnings per share (EPS) over the 5-year period? Group of answer choices a. 18.94% b. 18.04% c. 16.36% d. 17.18% e. 15.54%
Answers (1)
The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000. Refer to Exhibit 6-4.
Answers (1)
E. If the market price of wheat instead falls to $20.00 per bushel, how much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
Answers (1)