14. When Danny withdrew from John, Daniel, Harry and Danny LLP, he was pald $80,000, although his capital account balance was only $60,000. The four partners shared net income and losses equally. The joumal entry of the partnership to record Danny's withdrawal preferably should include: A. $6,667 debit to John, Capital B. $6,667 credit to John, Capital C. $6,667 debit to John, Drawing D. $5,000 debit to John, Capital E. $5,000 credit to John, Capital 15 The Abrams, Bartle and Creighton partnership began the process of liquidation with the following balance sheet: Abrams, Bartle and Creighton share profits and losses in a ratio of 3:2:5. Liquidation expenses are expected to be $12,000. If the non-cash assets were sold for $234,000, what amount of the loss would have been allocated to Bartle? A. $43,200 B. $46,800 C. $40,000 D. $42,400 E. $43,100. If 3. The Keaton, Lewis and Meador partnership had the following balance sheet just before entering liquidation: Keaton, Lewis and Meador share profits and losses in a ratio of 2:4:4. Non-cash assets were sold for $180,000. Liquidation expenses were $10,000. Assume that Lewis was personally insolvent and could not contribute any assets to the partnership, while Keaton and Meador were both solvent. What amount of cash would Keaton have received from the distribution of partnership assets? A. $38,000 B. $30,000. C. $24,000 D. $34,000 E. $31,600