Use the following information to answer questions 7-12 below, Chapter 14 Partnership Accounting and Reporting The balance sheet of the Troy Partnership at September 30, 2020, shows Various assets TOTAL $500,000 Various abilities. $100,000 Capital, Thomas 160,000 Capital, Renee 120,000 Capital Oscar.. 80.000 Capital, Yvonne 40,000 $500,000 TOTAL $500,000 The partners share income equally. Consider each question independently 7. Zeke invests $150,000 and is admitted as an equal partner. The bonus method is used. Capital accounts of the partners after Zeke's admission are a. Thomas $160,000, Rence $120,000, Oscar $80,000, Yvonne $40,000, Zeke $150,000 C. b. Thomas $172,500, Renee $132,500, Oscar $92,500, Yvonne $52.500, Zeke $100,000 Thomas $170,000, Renee $130,000, Oscar $90,000, Yvonne $50,000, Zeke $110,000. d. Thomas $210,000, Renee $170,000, Oscar $130,000, Yvonne $90,000, Zeke $150,000. LO 8. Zeke invests $150,000 and is admitted as an equal partner. The goodwill method is used. Capital accounts of LO the partners after Zeke's admission are a. Thomas $160,000, Rence $120,000, Oscar $80,000, Yvonne $40,000, Zeke $150,000. b. Thomas $172.500, Renee $132,500, Oscar $92,500, Yvonne $52.500. Zeke $100,000. c. Thomas $170,000, Renee $130,000, Oscar $90,000. Yvonne $50,000, Zeke $110,000. d. Thomas $210,000. Renee $170,000, Oscar $130,000, Yvonne $90,000, Zeke $150,000. 9. Renee decides to retire as a partner. The remaining partners agree to pay Renee $300,000 from partnership L funds, and to use the bonus method. The capital accounts of the remaining partners after Renee's retirement are a. Thomas $160,000, Oscar $80,000, Yvonne $40,000. b. Thomas $60,000, Oscar $(20,000). Yvonne S(60000). c. Thomas $100,000, Oscar $20,000, Yvonne S(20,000). d. Thomas $90,000, Oscar $10,000. Yvonne $0. 10. Renee decides to retire as a partner. The remaining partners agree to pay Renee $300,000 from partnership funds, and to use the partial goodwill approach. The capital accounts of the remaining partners after Renee's retirement are a. Thomas $160,000, Oscar $80,000, Yvonne $40,000. b. Thomas $400,000, Oscar $320,000, Yvonne $280,000. Thomas $260,000, Oscar $180,000, Yvonne $140,000. C. d. Thomas $220,000, Oscar $140,000, Yvonne $100,000. 11. The Troy Partnership decides to terminate operations and liquidate. To begin the process, assets with a book value of $292,000 are sold for $184,000. Under a safe payment approach, how much will be distributed to the partners? 108 loss Thomas $62,000, Renee $22,000, Oscar $0, Yvonne $0 b. Thomas $92,000, Renee $92,000, Oscar $0, Yvonne S0 C. Thomas $87,000, Renee $47,000, Oscar $25,000, Yvonne $25,000 d. Thomas $46,000, Renee $46,000, Oscar $46,000, Yvonne $46,000 12. Under a cash distribution plan, how would the first $150,000 be distributed? a. $100,000 to creditors, $50,000 equally among the four partners b. $100,000 to creditors, $50,000 equally among Thomas, Renee, and Oscar c. $100,000 to creditors, $50,000 equally to Thomas and Oscar $100,000 to creditors, $45,000 to Thomas, $5,000 to Rence 50K Cash avail