Problem 14-24

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

Pineda	$	240,000
Adams		210,000
Fergie		200,000
Gomez		190,000
Total capital	$	840,000

a.	Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $246,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners?
	Capital Balance Pineda _____- Adams______ Gomes______

b.	Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $295,000 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?
	Capital Balance Adams ________ Fergie _________ Gomez_________