Huda,Tala, and Noor have capital balances of $47,500, $37,500, $ 30,000 respectively. They share income...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Huda,Tala, and Noor have capital balances of $47,500, $37,500, $ 30,000 respectively. They share income and loss on a 5:3:2 respectively . Noor Retire from the partnership under each of the following conditions using good will approach :
1. Noor is paid $32,000 in cash from partnership
2. Noor is paid $26,000 from Huda
Instructions
Journalize the withdrawal of Noor under each of the assumptions above , the partner agree not to record all of goodwill.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.