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D,E and F are partners with capital balances of 50000 each. The partnership shares income and losses equally in the ratio of 1:1:1. F withdraws
D,E and F are partners with capital balances of 50000 each. The partnership shares income and losses equally in the ratio of 1:1:1. F withdraws from the partnership. What in the entry on the partnerships books if F sells his interest to G who pays F 25000 for Fs partnership interest?
A. Dr. F Capital 50000; Cr. G Capital 50000 | ||
B. Dr. G Capital 50000; Cr. F Capital 50000 | ||
C. Dr. F Capital 25000; Cr. G Capital 25000 | ||
D. Dr. G Capital 25000; Cr. F Capital 25000 | ||
E. None of above |
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