a Alan, Stu, Phil, and Doug were in a partnership. Doug withdrew and he was...
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a Alan, Stu, Phil, and Doug were in a partnership. Doug withdrew and he was paid $10,000 based on an independent appraisal of the business. The partners shared profit and loss on a 20%, 30%, 10%, and 40% for Alan, Stu, Phil, and Doug, respectively. Their capital balances were $8,000 (Alan). $3,000 (Stu), $6,000 (Phil), and $5,000 (Doug). If the goodwill method is used, what is/are the journal entry (ies) for this withdrawal and what is Doug's capita balance after the withdrawal JE(s) are posted
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