Question
On December 31, the capital balances and income ratios in Bismillah Company are as follows Partner Abu Bakar Umar Usman Capital Balance Tk. 100.000 80,000
On December 31, the capital balances and income ratios in Bismillah Company are as follows Partner Abu Bakar Umar Usman Capital Balance Tk. 100.000 80,000 50,000 Income Ratio 50% 30% 20% Instructions (1) Journalize the withdrawal of Usman under each of the following assumptions Each of the continuing partners agrees to pay T 30,000 in cash from personal funds to purchase Usman's ownersh Each receives 50% of Usman's equity () Umar agrees to purchase Usman's ownership interest for T 35,000 cash (i) Usman is paid 60.000 from partnership assets, which includes a bomes to the retiring partner (iv) Usman is paid T 42,000 from partnership assets, and bonuses to the remaining partners are recognized (2) If Umar's capital balance after Usman's withdrawals Tk 100,600, what were the total bons to the remaining and () the cash paid by the partnership to Usman?
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