Reference no: EM132744882
Problem 1: When A retired from the partnership, the final payment to A exceeded his capital balance, under the bonus method, the excess
a. Will reduce the capital balance of B and C
b. Will not have an effect to the capital balance of B and C
c. Will be recorded as a loss
d. Will be recorded as a shortage
Problem 2: The following transactions will affect the balance of the total partnership capital except
a. retirement of a partner by paying an amount equal to his interest
b. the partnership incurred net loss for the year
c. admission by purchase with bonus
d. permanent retirement by partners
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