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  1. business
  2. accounting
  3. b. karl is paid $43,400, and only his share of the

b. Karl is paid $43,400, and only his share of the goodwill is recorded. (If...

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Accounting

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b. Karl is paid $43,400, and only his share of the goodwill is recorded. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) c. Karl is paid $34,700, and all implied goodwill is recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld. Do not round intermediate calculations.) In the LMK partnership. Luis's capital is $41,000, Marty's is $51,100, and Karl's is $31,200. They share income in a 4.11 ratio. Fespectively. Karl is retiring from the partnership. Required: Prepare journal entries to record Karl's withdrawal according to each of the following independent assumptions: a. Karl is paid $38.400, and no goodwill is recorded. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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