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The partners agree to these revaluations. The profit-and-loss ratio has been 2:4:4 for , , and , respectively. In retiring from the firm, received cash.
The partners agree to these revaluations. The profit-and-loss ratio has been 2:4:4 for , , and , respectively. In retiring from the firm, received cash. Required Journalize (a) the asset revaluations, and (b) 's withdrawal from the firm. Question content area bottom Part 1 a. Journalize the revaluation of the inventory. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit May 31 Brady, Capital 6,600 Korn, Capital 13,200 Harrison, Capital 13,200 Inventory 33,000 Part 2 Journalize the revaluation of the land
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