Part B Kenya, Libya and Malta are partners who share profit and loss in...
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Accounting
Part B
Kenya, Libya and Malta are partners who share profit and loss in a :: ratio. At the end of their capital balances were Kenya $ Libya $ and Malta $ respectively. Kenya decided to withdraw from the partnership and all partners agreed the partnership would pay $ cash to Kenya for settlement of his capital balance. Required:Prepare journal entry to record Kenya's withdrawal. Show detailed calculation processes where necessary. Explanation is not necessary.
Part C
Mr Tokelau has been running his own business as sole proprietorship for many years. Because of his talents in business, his best friend, Mariana, wants to form a partnership with him. He is anxious and seeks your advice on what characteristics of a partnership business he should pay attention toPlease briefly discuss three main characteristics of a partnership
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