Question
The capital accounts balances of partners in The Ministry partnership on July 1, 2019 are as follows: Minn, Capital (20%) P1,200,000 Ister, Capital (30%) 2,000,000
The capital accounts balances of partners in The Ministry partnership on July 1, 2019 are as follows:
| Minn, Capital (20%) | P1,200,000 |
| Ister, Capital (30%) | 2,000,000 |
| Ryan, Capital (50%) | 800,000 |
| Total | P4,000,000 |
On July 1, 2019 Ryan withdrew from the partnership when Minn bought his capital interest for P850,000. What is the journal entry upon retirement of Ryan?
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Auditing Online The Contribution Of Internal Audit On Efficiency And Effectiveness Of Private Companies In Rwanda A Case Of UNILAK
Authors: James Twagirumukama
1st Edition
6139969662, 978-6139969661
