This is for Advanced financial accounting.

please provide and explanation :)

Thank you!

Albert and Bill have decided to form a partnership. Albert is to contribute S120,000 cash to the partnership for a 60% share of the capital, and Bill will contribute $30,000 for a 40% share. (6 points) 7. Using the bonus method, what will be cach partner's capital balance? Albert $120,000, Bill $30,000. Albert $90,000, Bill S60,000. Albert $80,000, Bill $70,000. Some other combination. 8. Using the goodwill method, what will be each partner's capital balance? (Assume that Albert's contribution (6 points) represents 60% of the partnership's true value.) Albert $110,000, Bill $90,000. Albert $120,000, Bill $80,000. Albert $150,000, Bill $50,000. Some other combination