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CALCULATOR FULL SOHLEN WIR D AUK Brief Exercise 12-10 Capital balances in Pelmar Co. are Lango $40,000, Oslo $30,000, and Fernetti $20,000. Fernetti receives $24,000
CALCULATOR FULL SOHLEN WIR D AUK Brief Exercise 12-10 Capital balances in Pelmar Co. are Lango $40,000, Oslo $30,000, and Fernetti $20,000. Fernetti receives $24,000 from partnership assets in withdrawing from the firm. Lango and Oslo each receive 50% of Fernetti's equity. The partners share income equally. Journalize the withdrawal of Fernetti. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credi Credit ILI LE
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