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I need 5 journal entries of this ASAP Please Thank you Required information [The following information applies to the questions displayed below] Meir, Benson, and
I need 5 journal entries of this ASAP
Required information [The following information applies to the questions displayed below] Meir, Benson, and Lau are partners and share income and loss in a 2.3:5 ratio (in percents: Meir, 20\%; Benson. 30%; and Lau, 50% ). The partnership's capital balances are as follows: Meir, \$68,000; Benson, \$104,000; and Lau, $178,000. Benson decides to withdraw from the partnership. 1. Prepare journal entries to record Benson's February 1 withdrawal under each separate assumption: (Do not round intermediate calculations.) 1. Benson sells her interest to North for $160,000 after North is approved as a partner: 2. Benson gives her interest to a son-in-law, Schmidt, and Schmidt is approved as a partner. 3. Benson is paid $104,000 in partnership cash for her equity. 4. Benson is paid $142,000 in partnership cash for her equity. 5. Benson is paid $24,000 in partnership cash plus equipment that is recorded on the partnership books at $56,000 less accumulated depreciation of $17,920. Journal entry worksheet Please
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