13) The capital account balances for Donald & Hanes LLP on January 1, 2021, were as follows: Donald, capital Hanes, capital $ 200,000 100,000 Donald and Hanes shared net income and losses in the ratio of 3:2, respectively. The partners agreed to admit May to the partnership with a 35% interest in partnership capital and net income. May invested $100,000 cash, and no goodwill was recognized. What is the balance of May's capital account after the new partnership is created? A) $84,000. B) $100,000 C) $140,000 D) $176,000 E) $200,000 14) When Danny withdrew from John, Daniel, Harry, and Danny, LLP, he was paid $80,000, although his capital account balance was only $60,000. The four partners shared net income and losses equally, and no revaluation will take place. The journal entry to record the effect on John's capital due to Danny's withdrawal would include: A) $6,667 debit to John, Capital B) $6,667 credit to John, Capital. C) $20,000 debit to John, Capital. D) $5,000 debit to John, Capital. E) $5,000 credit to John, Capital Version 1 5