Question
Capital balances in Blossom Co. are Lango $29,600, Osio $22,200, and Fernetti $14,800, Fernetti receives $17,800 from partnership assets in withdrawing from the firm. Lango
Capital balances in Blossom Co. are Lango $29,600, Osio $22,200, and Fernetti $14,800, Fernetti receives $17,800 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)
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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
