PLEASE SOLVE THIS QUESTION, IT CONSISTS OF PARTS (A), (B) AND (C). THANK YOU On...
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PLEASE SOLVE THIS QUESTION, IT CONSISTS OF PARTS (A), (B) AND (C). THANK YOU
On December 31, the capital balances and profit and loss ratios in Cullumber Company are as follows:
Partner
Capital Balance
Profit and Loss Ratio
H. Smith
$172,800
60%
P. William
$71,190
30%
R. Brown
$57,600
10%
Journalize the withdrawal of Brown if using personal funds, William agrees to purchase Brown's ow the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, se On December 31, the capital balances and profit and loss ratios in Cullumber Company are as follows: (a) Journalize the withdrawal of Brown if using personal funds, William agrees to purchase Brown's ownership interest for $69,570 cash. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) eTextbook and Media Save for Later Attempts: 0 of 5 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Journalize the withdrawal of Brown if Brown is paid $69,570 from partnership assets. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) eTextbook and Media Save for Later Attempts: 0 of 5 used (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Journalize the withdrawal of Brown if Brown is paid $45,810 from partnership assets. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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