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Problem 11-6A Partnership entries, profit allocation, admission of a partner LO2,3,4 Income Summary account had...

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Accounting

Problem 11-6A Partnership entries, profit allocation, admission of a partner LO2,3,4 Income Summary account had a creds balance of $570,000 On June 1,2024, Peter Witiams invested $139,000 and was admithed to the partnership for a 205 interest in equity.
Required:
Prepare journal entries for the following dates.
a. June 1,2023
Journal entry worksheet
Record the formation of partnership.
Note: Enter debils before credits.
\table[[Date,,Debit,Credit],[June 01,2023,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
b. November 20,2023
Journal entry worksheet
Record the withdrawal by partner.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[Nov 20,2023,,,],[,,,],[,,,],[,,,],[,,,]]
View general journal
c. May 31,2024
Journal entry worksheet
Record the closing of profit to capital.
Note: Enter debits before credis.
d. June 1,2024
Journal entry worksheet
Record the admission of Williams for a 20% interest.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[June 01,2024,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
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