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Waldon, Trent, and Wizer decide to form a T-shirt design partnership. Alison Waldon figures this...

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Accounting

Waldon, Trent, and Wizer decide to form a T-shirt design partnership. Alison Waldon figures this T-shirt design business will help her other company, Nature Gnome Company, with any T-shirt design needs. Additionally, Trent and Wizer have connections with many companies and can expand and grow this new partnership. (Click - X Read the More info Requirem line of the Date Dec. Each of the three partners contributes $15,000 cash to start up the WTW partnership. They agree to share profits in two steps. First, Trent will receive $15,000 and Wizer will receive $21,000 because they will do most of the graphic design work. Any remaining profits or losses will be shared 1:2:3, respectively for Waldon, Trent, and Wizer. The business starts on January 1,2025. On December 31,2025, the business posted a loss of $21,000. Waldon decides to withdraw from the partnership on December 31,2025. Trent and Wizer agree to give Waldon $3,000 for her equity interest.
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