Problem 14-24 (LO 14-10)

The E.N.D. partnership has the following capital balances as of the end of the current year:

Pineda	$	160,000
Adams		140,000
Fergie		130,000
Gomez		120,000
Total capital	$	550,000

b.	Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $305,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners?

Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $305,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital balance of the remaining three partners?