Question One (13 Points) Baha', Ahmad, and Sabri are partners in BAS Partnership...
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Accounting
Question One Points
Baha', Ahmad, and Sabri are partners in BAS Partnership with capital balances of $ $ and $ respectively. Profits and losses are shared in a :: ratio. Baha' decided to withdraw from the partnership, and the partnership revalued its assets. The value of merchandise inventory was decreased by $ and the value of land was increased by $ In addition, partnership goodwill amounted to $ The partnership agreed to pay Baha' $ for his withdrawal from the partnership, which includes his share of goodwill.
Required
a Prepare the revaluation entry of merchandise inventory and land prior to Baha"s i withdrawal from partnership.
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