On December 31, the capital balances and profit and loss ratios in FJA Company are as follows:

Antoni is withdrawing from the partnership.
Instructions
Journalize the withdrawal of Antoni under each of the following independent assumptions:
(a) Using personal funds, Jiang agrees to purchase Antoni's ownership interest for $58,000 cash.
(b) Antoni is paid $58,000 from partnership assets.
(c) Antoni is paid $38,200 from partnership assets.
TAKING IT FURTHER
What factors are important in deciding whether the withdrawing partner should be paid from the remaining partners' personal assets or from the partnership's assets?

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Partner H. Fercho P Jiang Capital Balance $144,000 59,300 $ 48,000 Profit and Loss Ratio 60% 30% 10% R. Antoni