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Chapter 12 Homework i Saved Help Save & Exit Submit Check my work 4 Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $150,000; Folgers, $90,000; and Tulip, $60,000. 10 points Prepare journal entries to record the retirement of Tulip under independent assumption. Assume Tulip is paid $60,000, $80,000, $30,000 for her equity using partnership cash. (Do not round intermediate calculations.) eBook View transaction list Hint Journal entry worksheet 2 3 V Print Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $60,000 References Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journal Mc Graw 4 of 4 Hill Chapter 12 Homework i Saved Help Save & Ex Submit Check my work Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $150,000; Folgers, $90,000; and Tulip, $60,000. 10 points Prepare journal entries to record the retirement of Tulip under independent assumption. Assume Tulip is paid $60,000, $80,000, $30,000 for her equity using partnership cash. (Do not round intermediate calculations.) eBook View transaction list Hint Journal entry worksheet Print Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $80,000. References Note: Enter debits before credits. Transaction General Journal Debit Credit (b) Record entry Clear entry View general journal Mc Graw EducationChapter 12 Homework 0 Saved Help Save a. Exit Submit 4 Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5' '2 ratio (in percents: Hunter, 50%; Folgers, 30%; and Tulip. 20%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $150,000; Folgers, $90,000; and Tullp. $60,000. 10 Preparejournal entries to record the retirement of Tulip under independent assumption. Assume Tulip is paid $60,000, $80,000, $30,000 for her equity using partnership cash. (Do not round intermediate calculations.) as?\" View transaction list 9; Journal entry worksheet _ I! Print Record the retirement of Tulip 0n the assumption that she is paid for her E equity using partnership cash of $30,000. References Note: Enter debits before credits. Record entry m View general journal ( Prev 4 of 4 Next