Required information [The following information applies to the questions displayed below) Debra and Merina sell electronic equipment and supplies through their partnership They wish to expand their computer lines and decide to admit Wayne to the partnership Debra's capital is $190,000, Merina's capital is $152,000, and they share income in a ratio of 32, respectively, 1 Wayne invests $68,000 for a 20 percent interest in the total capital of $410,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Debil General Journal No Credit 1 Cash Debra Capital Merina, Capital Wayne Capital 0 Required information The following information applies to the questions displayed below) Debra and Merina sell electronic equipment and supplies through their partnership. They wish to expand their computer lines and decide to admit Wayne to the partnership Debra's capital is $190,000 Merina's capital is $152,000, and they share income in a ratio of 3 2 respectively Wayne invests 5101,000 for a 20 percent interest. Goodwill is to be recorded (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Debit Credit Event General Journal No Goodwill Debra Capital Marina, Capital Required information [The following information apples 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 $151,300 200,400 121,000 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. a. Jack acquired Spade's capital interest for $152,000 in a personal transaction Partnership assets were not revalued, and partnership goodwill was not recognized. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event Debit Credit General Journal A Spade. Capital 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 $151,300 200,400 121.000 The partners allocate partnership income and loss in the ratio 20.3050, respectively Required: Record Spade's withdrawal under each of the following independent situations b. Jack acquired Spade's capital interest for $152,000 in a personal transaction Partnership assets were not revalued and partnership goodwill applicable to the entire business was recognized by the partnership (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction ist Journal entry worksheet 8 Record the recognition of goodwill and the allocation to the partners. 1 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 $151,300 200,400 121,000 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, Spade received $182,000 of partnership cash upon retirement Capital of the partnership after Spade's retirement was $290,700.0F 10 entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payment of the bonus to Spade upon his retirement Note: Enter debit before credits Debler Credit General Journal 1 View general Journal Record entry Clear entry 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 $151,300 200,400 121,000 The partners allocate partnership income and loss in the ratio 2030:50, respectively Required: Record Spade's withdrawal under each of the following independent situations d. Spade received $60,100 of cash and partnership land with a fair value of $120,300. The carrying amount of the land on the partnership books was $100.400. Capital of the partnership after Spade's retirement was $312,200 (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet General Journal Debit Credit No Event 1 Land Ace Capital Jack, Capital Spade, Capital B 2 Ace, Capital Jack, Capital Spade, Capital Land 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 $151,300 200,400 121,000 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 e. Spade received $151.800 of partnership cash upon retirement. The partnership recorded the portion of goodwill attributable to Space (if no entry is required for a transaction/event, select "No journal entry required in the first account field) View transaction list Journal entry worksheet Record the payment of $151,800 upon retirement to Spade and the recognition of goodwill Notel Enter debits before credits Event General Journal Details Credit 1 med View general Wormation 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, 2005 Ace, Capital Sack, Capital Spade, Capital $151,300 200,400 121,000 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. 1 Spade received $151,800 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.) View transaction list Journal entry worksheet