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need help with 18 , 19 and 20 . what is the correct answer is going to be ? Questions 18 and 19 are based
need help with 18 , 19 and 20 . what is the correct answer is going to be ? Questions 18 and 19 are based on the following fact statement: Ewang, Martin and Bartolone are partners with capitalbalances of S50000 (fifty thousand dollars) each. The three partners share income and losses equally in the ratio of 1:1:1 Ewang withdraws from the partnership 18. What is the entry on the partnership's books, to record Ewang's withdrawal from the partnership if Ewang sells his interest to Mendez who pays Ewing $25000 for Ewang's partnership interest. Mendez is approved as a partner. A. No entry B. Dr. Cash 25000 Cr. Mendez Capital 25000 C. Dr. Ewang, Capital 50000 Cr. Mendez, Capital 50000 D. Dr. Ewang, Capital 25000 Cr. Mendez Capital 25000 E. None of the above 19. What is the entry if Ewang is paid $100000 in partnership cash for his equity? A. No entry B. Dr. Ewang Capital 50000 Dr. Martin Capital 25000 Dr. Bartolone Capital 25000 Cr. Cash 100000 C. Dr. Cash 100000 Cr. Ewang Capital 100000 D. Dr. Cash 100000 Cr. Ewang Capital 50000 Cr. Bartolone Capital 25000 Cr Martin Capital 25000 E. None of the above 20. What is the correct number sequence of the four steps from first step to last step for the liquidation of a partnership? Number Step 1. Record the sale of noncash assets at liquidation; 2. Allocate any gain or loss on liquidation of non-cash assets; 3. Record the payment of the outstanding liabilities 4. Distribute the remaining cash based on partners' capital balances A 1-2-3-4 B. 1-2-4-3 C. 2-3-4-1 D. 4-3-2-1 E. None of the above born in search
need help with 18 , 19 and 20 . what is the correct answer is going to be ?
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