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Exercise 15-13 Kazma, Folkert, and Tucker are partners with capital account balances of $28,700, $71,000, and $46,600, respectively. Income and losses are divided in a

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Exercise 15-13 Kazma, Folkert, and Tucker are partners with capital account balances of $28,700, $71,000, and $46,600, respectively. Income and losses are divided in a 4:4:2 ratio. When Tucker decided to withdraw, the partnership revalued its assets from $233,000 to $259,400, which represented an increase in the value of inventory of $8,000 and an Increase in the value of land of $18,400. Tucker was then given $16,200 cash and a note for $36,800 for his withdrawal from the partnership (a) Your answer is correct. Prepare the journal entry to record the revaluation of the partnership's assets. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Thand 184001 Inventory 1 Karma, Capital 10560 Folkert, Capital 10560 Tucker, Capital i 5280 Prepare the journal entry to record the withdrawal using the following independent methods. 1. Bonus. 2. Partial goodwill. 3. Full goodwill amount. (Credit account titles are automatically indented when amount account titles and enter o for the amounts.) not indent manually. If no entry is required, select "No Entry" for the Debit No. Account Titles and Explanation 1 Bonus 2. Partial goodwill recorded (To record goodwill) (To record withdrawal from the partnership) 3. Full goodwill recorded (To record goodwill) (To record withdrawal from the partnership)

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