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Green, Tan, and Brown form a partnership. The partnership agreement states that net income and loss will be shared in a 5:4:1 ratio (in
Green, Tan, and Brown form a partnership. The partnership agreement states that net income and loss will be shared in a 5:4:1 ratio (in percents: Green, 50%; Tan, 40%; and Brown, 10%). Brown withdraws from the partnership on December 31 when equities of the partners are Green, $324,000; Tan, $228,000; and Brown, $164,000. 1. Record the withdrawal assuming Brown is paid $164,000 for its equity using partnership cash. 2. Record the withdrawal assuming Brown is paid $180,200 for its equity using partnership cash. 3. Record the withdrawal assuming Brown is paid $130,700 for its equity using partnership cash. View transaction list Journal entry worksheet 1 2 3 Record the withdrawal assuming Brown is paid $164,000 for its equity using partnership cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal
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