Required information [The following information applies to the questions displayed below.] The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital Jack, Capital Spade, Capital $151,800 201,900 121,700 The partners allocate partnership income and loss in the ratio 20:30:50, respectively. Required: Record Spade's withdrawal under each of the following independent situations. c. Spade received $181,200 of partnership cash upon retirement. Capital of the partnership after Spade's retirement was $294,200. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Event General Journal A 1 Spade, Capital Ace, Capital Jack, Capital Cash Debit 121,700 Credit The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital Jack, Capital Spade, Capital $151,800 201,900 121,700 The partners allocate partnership income and loss in the ratio 20:30:50, respectively. Required: Record Spade's withdrawal under each of the following independent situations. d. Spade received $61,500 of cash and partnership land with a fair value of $120,500. The carrying amount of the land on the partnership books was $100,300. Capital of the partnership after Spade's retirement was $313,600. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No A Event 1 Land Ace, Capital B 2 Jack, Capital Spade, Capital Spade, Capital Ace, Capital Jack, Capital Cash Land Answer is not complete. General Journal 00000 0000 Debit Credit 20,200 4,040 6,060 10,100 61,500 120,500 Required information [The following information applies to the questions displayed below.] The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital Jack, Capital Spade, Capital $151,800 201,900 121,700 The partners allocate partnership income and loss in the ratio 20:30:50, respectively. Required: Record Spade's withdrawal under each of the following independent situations. f. Spade received $150,500 of partnership cash upon retirement. The partnership goodwill attributable to all the partners was recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event A 1 Goodwill Ace, Capital Jack, Capital Spade, Capital B 2 Spade, Capital Jack, Capital Answer is not complete. General Journal Debit Credit 150,500 150,500 The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20X5, Spade decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 20X5: Ace, Capital Jack, Capital $151,800 201,900 Spade, Capital 121,700 The partners allocate partnership income and loss in the ratio 20:30:50, respectively. Required: Record Spade's withdrawal under each of the following independent situations. g. Because of limited cash in the partnership, Spade received land with a fair value of $101,300 and a partnership note payable for $51,700. The land's carrying amount on the partnership books was $61,900. Capital of the partnership after Spade's retirement was $361,800. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event A 1 Land Ace, Capital B 2 Jack, Capital Spade, Capital Spade, Capital Ace, Capital Jack, Capital Notes payable Land Answer is not complete. General Journal 00000 0000 Debit Credit 39,400 7,880 11,820 19,700 51,700 101,300