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An LLC consists of three members: Green, Tan, and Brown. The members share net income and loss equally. Brown withdraws from the LLC when equity
An LLC consists of three members: Green, Tan, and Brown. The members share net income and loss equally. Brown withdraws from the LLC when equity for each member is Green, $20,600; Tan, $7,600; and Brown, $9,600. Brown receives $16,200 cash for its equity in the business. Record the entry for Brown's withdrawal from the partnership. Hint: The LLC uses the following equity accounts: Green, Member Equity, Tan, Member Equity; Brown, Member Equity. View transaction list Journal entry worksheet A Record Brown's withdrawal from the partnership. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal
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