Question
The E.N.D. the partnership has the following capital balances as of the end of the current year: Pineda $ 170,000 Adams 150,000 Fergie 140,000 Gomez
The E.N.D. the partnership has the following capital balances as of the end of the current year:
| Pineda | $ | 170,000 |
| Adams | 150,000 | |
| Fergie | 140,000 | |
| Gomez | 130,000 | |
| Total capital | $ | 590,000 |
Answer the questions
Assume that the partners share profits and losses 4:3:2:1, respectively. Pineda retires and is paid $330,000 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.)**
Here are the answers that I got, I just need part B to be answered. I need help. Thanks!
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
9780073526706
