Eaton, Korman, and Roland have capital balances of $150,000, $100,000, and $75,000, respectively, and their income ratios

Question:

Eaton, Korman, and Roland have capital balances of $150,000, $100,000, and $75,000, respectively, and their income ratios are 4:2:4.

Instructions
Record the withdrawal of Roland from the under each of the following assumptions:
1. Roland is paid $75,000 from assets.
2. Roland is paid $93,000 from assets.
3. Roland is paid $60,000 from assets.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...