Note: This homework assignment accounts for 6 points. No point will be given when (1) it is incomplete, (2) it is past due, (3) no work is provided, or (4) most answer/work is incorrect. Points will be deducted if part of the answer/work provided is incorrect. April, May, and June have the following capital balances; $60,000,$75,000 and $45,000 respectively. The partners share profits and losses 20%,40%, and 40% respectively. Consider the following five independent transactions: a. May retires and is paid $87,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of April? Answer: b. May retires and is paid $87,000 based on an independent appraisal of the business. If the goodwill method is used, what is the capital balance of April? Answer: c. The three partners agree to admit March for a 20% interest. March contributes $30,000 to the partnership. If the bonus method is used, what is the capital balance of April