(Answered) Question the end partnership has the following capital

Accounting

Question: The E.N.D. partnership has the following capital balances as of the end of the current year:

Pineda $ 330,000

Adams 290,000

Fergie 260,000

Gomez 240,000

Total capital $ 1,120,000

Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $296,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners?

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