Following are the capital account balances and profit and loss percentages indicated parenthetically) for the Alden,...

Transcribed Image Text:

Following are the capital account balances and profit and loss percentages indicated parenthetically) for the Alden, Boyd, and Carmel partnership Alden (40%) Boyd (40%) Carmel (20%) Required: $230,000 180,000 160,000 Del Mar Invests $260,000 in cash for a 30 percent ownership Interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, compute Boyd's capital balance. Bonus to onginal partners Boyd's ownership share % Boyd's share of bonus $ 0 Boyd's capital before bonus Boyd's capital after bonus S Following are the capital account balances and profit and loss percentages indicated parenthetically) for the Alden, Boyd, and Carmel partnership Alden (40%) Boyd (40%) Carmel (20%) Required: $230,000 180,000 160,000 Del Mar Invests $260,000 in cash for a 30 percent ownership Interest. The money goes to the business. No goodwill or other revaluation is to be recorded. After the transaction, compute Boyd's capital balance. Bonus to onginal partners Boyd's ownership share % Boyd's share of bonus $ 0 Boyd's capital before bonus Boyd's capital after bonus S