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 $150,700 200,900 128,888 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. a. Jack acquired Spade's capital interest for S151.700 in o personal transaction Partnership assets were not revolued, 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 transactionist Journal entry worksheet Record Spade's capital interest that was acquired in a personal transaction with Jack b. Jack acquired Spade's capital interest for $151700 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 in required for a transaction/event, select "No journal entry required" in the first account field.) View transaction ist Journal entry worksheet Record the recognition of goodwill and the allocation to the partners. Toter Entur debits before credits General Journal Debit Credit Event 1 Record entry Clear entry View general journal c Spade received $181.900 of partnership cash upon retirement Capital of the partnership after Spade's retirement was $290,500. ( no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transachon list Journal entry worksheet Record the recognition of goodwill for the entire firm upon Spade's retirement Hotet Ende debits before credits General Journal Debit Credit Event 1 Prey 16 17 g. Because of limited cash in the partnership. Spade received land with a fair value of $101,300 and a partnership note payable for $51,000. The land's carrying amount on the partnership books was $60,900. Capital of the partnership after Spade's retirement was $360,500. (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