question 1 Withdrawl McCann Pollard Raj are all members of a partnership they split all profits according to capital balances. opening capital balances are as follows McCann 30,000 Pollard 50,000 Raj 40,000 McCann stake is purchased for 40000 from company resources a) what is the bonus that results from this transaction? bonus b) create the appropriate journal entry to record the withdrawal of this partner Date Description DR CR question 4 Withdrawl Blake Lombard Boyd are all members of a partnership they split all profits equally opening capital balances are as follows Blake 33,000 Lombard 66,000 Boyd 21,000 Blake stake is purchased for 30000 by boyd from his personal assets a) what is the bonus that results from this transaction? bonus b) create the appropriate journal entry to record the withdrawal of this partner Date Description DR CR question 2 Liquidation the following partnership liquidated with assets, liabilities and capital balances below. ASSETS Cash A/R Inventory vehicle acc. Dep other assets TOTAL ASSETS Llabilities OE 5000 Notes payable 1 3500 other liabilities 1000 Capital A 25000l Capital B . 12500 capitalC L 1000 23000 TOTAL LIAB - OE 350 9000 2000 4150 23000 $23,000 a) If the assets were sold for DATE Description create the appropriate journal entry to record the sale drcr b) allocate the loss or gain amongst the partners DATE Description - if the partner share profits 3:1:1 drar c) create the approriate journal entry to pay off the liabilities DATE Description d) distribute cash to partners DATE Description dr e r