Question
The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda $ 180,000 Adams 160,000 Fergie 150,000 Gomez 140,000
| The E.N.D. partnership has the following capital balances as of the end of the current year: |
| Pineda | $ | 180,000 |
| Adams | 160,000 | |
| Fergie | 150,000 | |
| Gomez | 140,000 | |
| Total capital | $ | 630,000 |
Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $345,000 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? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts.)
| NA | Capital Balance |
| Adams | ??? |
| Fergie | ??? |
| Gomez | ??? |
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
