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Brenda Roberts, Lacy Peters, and Aarin MacDonald are partners in RPM Dance Studios. They share profit and losses in a 40:40 20 ratio Aarin retires

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Brenda Roberts, Lacy Peters, and Aarin MacDonald are partners in RPM Dance Studios. They share profit and losses in a 40:40 20 ratio Aarin retires from the partnership on October 14, 2020, and receives $91,000 cash plus a car with a book value of $51,000 (original cost was $106,000). 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, $311,000; Peters, S411,000, MacDonald, $142,000. View transaction list Journal entry worksheet 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, $111.000; Peters, $142,000, MacDonald, S171,000. Help Save 3 View transaction list Journal entry worksheet 1 5059 Record the retirement of a partner, Note: Enter debits before credits Account Title Date Oct 14, 2020 Debit Credit B. Record the retirement of a partner. Note: Enter debits before credits. Date General Journal Debit Credit -41 Oct 14, 2020 Record entry Clear entry View general journal Brenda Roberts, Lacy Peters, and Aarin MacDonald are partners in RPM Dance Studios. They share profit and losses in a 40 40 20 ratio Aarin retires from the partnership on October 14, 2020, and receives $91,000 cash plus a car with a book value of $51,000 (original cost was $106,000). 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, $311,000, Peters, S411,000; MacDonald, $142,000. Roberts, $311,000, Peters, $411,000 MacDonald, 5142,000 View transaction ist Journal entry worksheet Record the retirement of a partner Note: Enter debits before credits General Journal Debit Credit Date Oct 14, 2020 Record entry Clear entry View general journal b. Roberts, $111.000: Peters, $142,000: MacDonald; $171,000. View transaction list Journal entry worksheet 1 Record the retirement of a partner. Note: Enter debits before credits. Account Title Debit Credit Date Oct 14, 2020 c. Roberts, $141.000; Peters, $171.000; MacDonald: $71,000. 3 View transaction list Journal entry worksheet 1 243 Record the retirement of a partner. NoteEnter debits before credits Date General Journal Debit Credit Oct 14, 2020

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