5. Mann, Haney and Young are partners. Haney, who has a capital balance of $140 000, has decided to retire. On February 1, Mann offers Haney $137 000 for his equity, and Haney accepts. Record the entry to record Haney's departure. 6. Orr, Hamilton and Talbot are partners with capital balances of $50 000, $60 000 and $90 000, respectively. They have an income ratio of 3:4:5. On October 1, Orr decides to leave the partnership. Show the entry to record Orr's departure under the following assumptions: a. Hamilton and Talbot each pay $30 000 of their personal funds to Orr and receive 50% of his equity. b. Talbot pays $45 000 for all of Orr's equity 7. Haney, Koolen and Wallen are partners with capital balances of $140 000, $100 000 and $90 000 respectively. They share all profits and losses equally. On October 1, the partners have decided to close down the business. They manage to liquidate all of the assets at a gain of $60 000. Show the journal entry to allocate the gain to the partners and the entry to dissolve the business assuming a cash balance of $390,000 after the disposal of the assets. Chura, Palmer and Priamo are partners with in a technology consulting business. They have capital balances of $35 000, $25 000 and $12 000 respectively. They have an income ratio of 2:3:5. The partnership has the following assets and liabilities: Cash $20 000; Accounts Receivable $7 000; Computer Equipment $140 000; Accumulated Amortization - Computer Equipment $80 000; Note Payable $15 000. On December 1, the partners decide to liquidate the assets and close the partnership. They manage to collect all of the Accounts Receivable but could get only $10 000 for the computer equipment. Show the entries to record the sale of the assets, collection of accounts