Sam, Amanda, and Leonard have the following capital balances; $40,000, $50,000 and $30,000 respectively. The partners share profits and losses by 20%, 40%, and 40% respectively.

Required (show all your calculations):

1. Amanda retires and is paid $80,000 based on the terms of the original partnership agreement. If the bonus method is used, what is the capital of the remaining partners?
2. Amanda retires and is paid $80,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital of the remaining partners?
3. Amanda retires and is paid $40,000. If the bonus method is used what is the capital of the remaining partners?

Amanda retires and is paid $40,000. If overvalued assets are written down before the payment, what is the balance of the remaining partners?