Al, Bebe, Chris and Drew have the following partnership business: Liabilities and equities Liabilities Al, capital Bebe, capital Chris, capital Drew, capital Total Liab. and Eq's Cash Current assets Land Building and Equip't Total assets Assets $55,000 30,000 205,000 110,000 $400,000 The partners share profits and losses equally. Provide the partners' ending capital balances in each of the following independent situations. a. Edy is added to the partnership after contributing to the business. No goodwill or bonus is recorded. b. Edy contributes $100,000 in cash to the business and receives a 20% interest in the partnership. Edy's $100,000 investment is considered 20% of the new business's value, so goodwill may need to be recorded. (Edy's capital balance will be exactly $100,000.) d. $40,000 60,000 70,000 90,000 140,000 $400,000 C. Edy is added to the partnership and receives 20% of each partner's interest in the business after paying $39,000 directly to each of the four partners, not into the business. No goodwill is recorded. $100,000 Chris retires and has been paid 140% of his capital balance according to the terms of the original partnership agreement. The bonus method is used. (You can refer to Chapter 14 Connect Homework for guidance on this question. )