Julie Lee. Sara Hall, and Amber Young have capital balances of $59,000,547,200, and $35,400, respectively....
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Julie Lee. Sara Hall, and Amber Young have capital balances of $59,000,547,200, and $35,400, respectively. The pectit and loss ratio is 4.4:2. Assume Young withdraws from the partnership on December 31 of the current vear under each of the following independent conditiors: 1. Lee and Hall agree to purchase Young's eepity by paying $20000 each trom their personal assets. Each purchaser receives 50% of Yourg's equity. 2. Hall agrees to purchase all of Young's equity by paying $25.960 cash from her personal inseti 3. Lee agrees to purchase all of Youtg's equity by gaping $30.060 cash from her personal assets: (a) Journalize the withdemwal of Youngunder each of the above assumptions (Credit occount bides are automaticalfy indented when the amount is entered. Do not indent manualiy List all debit entries befove credit entries: II ne entry is mouired select "No Entry" for the
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