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Brenda Roberts, Lacy Peters, and Aarin MacDonald are partners in RPM Dance Studios. They share profit and losses in a 4040 20 ratio Aarin retires
Brenda Roberts, Lacy Peters, and Aarin MacDonald are partners in RPM Dance Studios. They share profit and losses in a 4040 20 ratio Aarin retires from the partnership on October 14, 2020, and receives $82,000 cash plus a car with a book value of $42.000 (onginal cost was $88,000) Required: For each of the following unrelated situations, present the journal entry to record Aarin's retirement assuming the equities of the partnership on October 14 are: a. Roberts, $302,000, Peters, $402,000, MacDonald, $124.000 View transaction list Journal entry worksheet 1 Record the retirement of a partner Note: Enter debits before credits General Journal Date Oct 14.2020 Debit Credit Record entry Clear entry View general Journal b. Roberts, $102,000, Peters, $124,000, MacDonald: $162,000. View transaction list Journal entry worksheet Record the retirement of a partner Note: Enter debits before credits: Date General Journal Debit Credit Oct 14, 2020 Record entry Clear entry View general Journal
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