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ASAP! PROBLEM 1 Partnership Accounting . Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and

ASAP!

PROBLEM 1 Partnership Accounting

. Donald, Anne, and Todd have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses 20%, 40%, and 40% respectively.

Anne retires and is paid $80,000 based on the terms of the original partnership agreement.

A)If the goodwill method is used, what are the capital balances of the remaining partners??

B) Answer question assuming the bonus method is used instead.??

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