A partnership begins its first year with the following capital balances: Alexander, Capital $66,000 Bertrand, Capital Coloma, Capital 76,000 86,000 The articles of partnership stipulate that profits and losses be assigned in the following manner: Each partner is allocated interest equal to 8 percent of the beginning capital balance. Bertrand is allocated compensation of $10,000 per year. Any remaining profits and losses are allocated on a 3:3:4 basis, respectively. Each partner is allowed to withdraw up to $6,000 cash per year. Assuming that the net income is $76,000 and that each partner withdraws the maximum amount allowed, what is the balance in Coloma's capital account at the end of the year? A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically: Henry (60%) Thomas (20%) Catherine (20%) $ 88,000 110,000 160,000 Anne is going to invest $93,000 into the business to acquire a 30 percent ownership interest. Goodwill is to be recorded. What will be Anne's beginning capital balance? A partnership has the following capital balances with partners' profit and loss percentages indicated parenthetically: Burks (40% ) Donovan (30%) Watkins (30%) $100,000 200,000 300,000 Ranzilla agrees to pay a total of $200,000 directly to these three partners to acquire a 25 percent ownership interest from each. The partnership will record goodwill based on the new partner's payment. What is Donovan's capital balance after the transaction? At year-end, the Circle City partnership has the following capital balances: Manning, Capital $220,000 Gonzalez, Capital Clark, Capital Freeney, Capital 200,000 170,000 160,000 Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $182,000 from the business based on the original contractual agreement. The payment made to Clark beyond his capital account was for Clark's share of previously unrecognized goodwill. After recognizing partnership goodwill, what is Manning's capital balance after Clark withdraws? Following are the capital account balances and profit and loss percentages (indicated parenthetically) for the William, Jennings, and Bryan partnership: William (45%) Jennings (45%) Bryan (10%) $360,000 310,000 290,000 Darrow invests $425,000 in cash for a 30 percent ownership interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, what is Jennings's capital balance