Part B

Kenya, Libya and Malta are partners who share profit and loss in a $2$:$3$:$4$ ratio. At the end of $2023,$ their capital balances were Kenya $$140,000,$ Libya $$180,000$ and Malta $$230,000,$ respectively. Kenya decided to withdraw from the partnership and all partners agreed the partnership would pay $$200,000$ cash to Kenya for settlement of his capital balance. Required:Prepare journal entry to record Kenya's withdrawal. Show detailed calculation processes where necessary. $($Explanation is not necessary.$)$

Part C

Mr$.$ Tokelau has been running his own business as sole proprietorship for many years. Because of his talents in business, his best friend, Mariana, wants to form a partnership with him. He is anxious and seeks your advice on what characteristics of a partnership business he should pay attention to$.$Please briefly discuss three main characteristics of a partnership