[The following information apples to the questions displayed below) The partnership of Ace, Jack, and...
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[The following information apples to the questions displayed below) The partnership of Ace, Jack, and Spade has been in business for 25 years. On December 31, 20x5, Spede decided to retire. The partnership balance sheet reported the following capital balances for each partner at December 31, 2015 Ace, Capital Jack Capitai Spade, Capital $150,000 200,000 120,000 The partners allocate partnership income and loss in the ratio 20 30 50, respectively Required: Record Spaces withdrawal under each of the following independent situations Spade receved $150,000 of partnership cath upon retirement. The partnership goodwill attributable to all the partners was recorded if no entry is required for a transaction/event, select /No journal entry required in the first account held.) View transaction 4 Journal entry worksheet
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