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Required information Problem 11-8A Partner withdrawal and admission LO P3, P4 [The following information applies to the questions displayed below] Meir, Benson, and Lau are

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Required information Problem 11-8A Partner withdrawal and admission LO P3, P4 [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, \$80,000; Benson, \$122,000; and Lau, \$208,000 Benson decides to withdraw from the partnership. Problem 11-8A Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead. Rhode is admitted to the partnership on cebruary i with a 25% equity. Prepare journal entrles to record Rhode's entry into the partnership under each separate assumption: Rhode invests (a) \$136,667; (b) \$99,767; and (c)\$179,034. (Do not round intermediate calculations.) Journal entry worksheet 23 Record the admission of Rhode with an investment of $136,667 for a 25% Interper in the eniaity Required information Problem 11-8A Partner withdrawal and admission LO P3, P4 [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, \$80,000; Benson, \$122,000; and Lau, \$208,000 Benson decides to withdraw from the partnership. Problem 11-8A Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead. Rhode is admitted to the partnership on cebruary i with a 25% equity. Prepare journal entrles to record Rhode's entry into the partnership under each separate assumption: Rhode invests (a) \$136,667; (b) \$99,767; and (c)\$179,034. (Do not round intermediate calculations.) Journal entry worksheet 23 Record the admission of Rhode with an investment of $136,667 for a 25% Interper in the eniaity

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