Problem 14-16 (LO 14-9) Following are the capital account balances for the William, Jennings, and Bryan partnership: william (40% of gains and losses ) $320,000 Jennings (40%) Bryan (208 270,000 250,000 Darrow invests $370,000 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? Multiple Choice $381,000 $270,000 $272,800 $272,100 At year-end, the Circle City partnership has the following capital balances: Manning, Capital $260,000 onzalez, Capital 240,000 Clark, Capital 210,000 Freeney, Capital 200,000 Profits and losses are split on a 3:3:2:2 basis, respectively. Clark decides to leave the partnership and is paid $230,000 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? Multiple Choice $266,000 $290,000 $280,000 $275,000