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ulie Lane, Sara Miles, and Amber Noll have capital balances of $48,400, $37,400, and $29,100, respectively. The profit and loss ratio is 5:3:2. Assume Noll
ulie Lane, Sara Miles, and Amber Noll have capital balances of $48,400, $37,400, and $29,100, respectively. The profit and loss ratio is 5:3:2. Assume Noll withdraws from the partnership on December 31 of the current year under each of the following independent conditions:
1.
Miles agrees to purchase all of Noll's equity by paying $32,850cash from her personal assets.
2.
Noll withdraws $29,100cash from the partnership.
3.
Noll withdraws $35,340cash from the partnership.
Journalize the withdrawal of Noll under each of the above assumptions
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