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how to know the 2:3 ratios Suppose Renala is withdrawing from the partnership of Renata, Nathan, and Autumn. The partners share profits and losses in
how to know the 2:3 ratios
Suppose Renala is withdrawing from the partnership of Renata, Nathan, and Autumn. The partners share profits and losses in a 1-2-3 ratio for Renata, Nathan, and Auturin, respectively. After the revaluation of assets, Renata's Capital balance is $33.000, and the other partners agree to pay her $55,000. Nathan and Autumn agree to a new profit and loss ratio of 2:3 for Nathan and Autumn, respectively Journalize the payment to Renata for her withdrawal from the partnership on August 31 Joumalore the payment to Rerata for her withdrawal from the partnership on August 31. (Record debits first, then credits. Exclude explanations from Journal entries.) Journal Entry Date Account Debit Credit Aug 31 33000 Renta, Capital Nathan, Capital Autumn Capital Cast 55000
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