JNW is a partnership owned by Johnson, Noon, and West. The partners' profit-and loss sharing ratio is 1:1:2, respectively. The adjusted trial balance of the partnership at April 30, 2018, follows:
JNW
Adjusted Trial Balance
April 30, 2018

Requirements
1. Prepare statement of partners' equity for the month ended April 30, 2018. Use a separate column for each partner in the statement of partners' equity. Assume no new capital contributions during April.
2. Prepare the four closing entries for the month ended April 30, 2018.
3. West decides to withdraw from the partnership on May 1, 2018. Her settlement includes all the Merchandise Inventory and all the Cash in exchange for her equity interest in the partnership.
4. Immediately after West's withdrawal, Johnson and Noon decide to liquidate the partnership. They sell the building for $164,000. Then they pay the liabilities and distribute the cash to complete the liquidation. Journalize these liquidation entries. Assume the profit-and-loss-sharing ratios are the same?

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Balance Debit Account Title Credit $ 32,000 Cash Merchandise Inventory 8,000 Building 240,000 $ 40,000 Accumulated Depreciation-Building Accounts Payable 16,000 70,000 Mortgage Payable Johnson, Capital 85,000 55,000 Noon, Capital 65,000 West, Capital Johnson, Withdrawals 12,000 Noon, Withdrawals 4,000 West, Withdrawals 11,000 73,000 Sales Revenue Cost of Goods Sold 55,000 32,000 Salaries Expense Rent Expense 10,000 $ 404,000 $ 404,000 Total