The following is the current balance sheet for a local partnership of doctors S $ Cash and current assets Land Building and equipment (net) 85.000 244 000 201 000 Liabitis A capital B. capital C capital D. capital 04.000 54 000 84000 134,000 164000 $ 530 000 Totals $ 530 000 Totals The following questions represent independent situations a. E is going to invest enough money in this partnership to receive a 20 percent interest No goodwill or bonus is to be recorded How much should inves? b. E contributes $120.000 in cash to the business to receive a 20 percent interest in the partnership Goodwil is to be recorded Profits and losses have previously been split according to the following percentages A 30 percent, B, 10 percent 40 percent and D. 20 percent. After E makes this investment, what are the individual capital balances? c. E contributes $70,000 in cash to the business to receive a 20 percent interest in the partnership Goodwil is to be recorded. The four orginal partners share al profits and losses equally. After E makes this investment, what are the individual capital balances? d. E contributes 582,000 in cash to the business to receive a 22 percent interest in the partnership No goodwill or other asset revaluation is to be recorded Profts and losses have previously been spit according to the following percentages A 10 percent 8 30 percent, C. 20 percent and D. 40 percent. After E makes this investment what are the individual capital balances? e. retires from the partnership and, as per the original partnership agreement is to receive cash equal to 130 percent of her final capital balance No goodwill or other asset revaluation is to be recognized All partners share profits and losses equally After the withdrawal what are the individual capital balances of the remaining partners? Complete this question by entering your answers in the tabs below. RE Complete this question by entering your answers in the tabs below. Reg A Reg B to b. E contributes $120,000 in cash to the business to receive a 20 percent interest in the partnership. Goodwill is to be recorded. Profits and losses have previously been split according to the following percentages: A, 30 percent; B, 10 percent; C, 40 percent; and D, 20 percent. After E makes this investment, what are the individual capital balances? c. E contributes $70,000 in cash to the business to receive a 20 percent interest in the partnership. Goodwill is to be recorded. The four original partners share all profits and losses equally. After makes this investment, what are the individual capital balances? d. E contributes $82,000 in cash to the business to receive a 22 percent interest in the partnership. No goodwill or other asset revaluation is to be recorded. Profits and losses have previously been split according to the following percentages: A, 10 percent; B, 30 percent; C, 20 percent; and D, 40 percent. After E makes this investment, what are the individual capital balances? e. Cretires from the partnership and, as per the original partnership agreement, is to rective cash equal to 130 percent of her final capital balance. No goodwill or other asset revaluation is to be recognized. All partners share profits and losses equally. After the withdrawal, what are the individual capital balances of the remaining partners? Show less Individuals (b) Capital Balances 74,200 Capital Balances (d) Capital Balances (0) Capital Balances $ A B D E
