Wondering why a. Is wrong? his window shows...
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his window shows your responses and what was marked correct and incorrect from your previous attempt. 10 Award: 8.54 out of 9.09 points You did not receive full credit for 1. Prepare the journal entry to record Benson's withdrawal from the partnership under each of the following independent assumptions. (Do not round intermediate calculations.) Benson (a) sells her interest to North for $160,000 after Meir and Lau approve the entry of North as a partner (b) gives her interest to a son-in-law, Schmidt, and thereafter Meir and Lau accept Schmidt as a partner (c) is paid $138,000 in partnership cash for her equity (d) is paid S214,000 cash for her equity; and (e) is paid $30,000 in partnership cash plus equipment recorded on the partnership books at $70,000 less its accumulated depreciation of$23.200 Answer is complete but not entirely correct Transaction General Journal Debit Credit (a) Benson, Capital 160,000X North, Capital 160,000 (b) Benson, Capital 138,000 Schmidt, Capital 138,000 (c) Benson, Capital 138,000 Cash 138,000 (d) Benson, Capital 138.000 Meir, Capital 28,500 Lau, Capital 47,500 Cash 214,000 (e) Benson, Capital 138,000 Accumulated depreciation Equipment 23,200 Meir, Capital 22,950 Lau, Capital 38,250 Equipment 70,000 Cash 30,000
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