on december 31 the capital balances and profit and loss ratios in the fja company ar 3387276

On December 31, the capital balances and profit and loss ratios in the FJA Company are as follows: Partner Capital Balance Profit and Loss Ratio H. Fercho………………..$140,000………………………………….60% P. Jiang…………………….$ 60,000…………………………………30% R. Antoni…………………$ 49,000…………………………………10% Antoni is withdrawing from the partnership. Instructions Journalize the withdrawal of Antoni under each of the following independent assumptions: (a) Each of the remaining partners agrees to pay $29,000 cash from personal funds to purchase Antoni s ownership equity. Each partner receives 50% of Antoni s equity. (b) Jiang agrees to purchase Antoni s ownership interest for $58,000 cash. (c) Antoni is paid $58,000 from partnership assets. (d) Antoni is paid $38,200 from partnership assets. Taking It Further What factors are important in deciding whether the withdrawing partner should be paid from the remaining partners personal assets or from the partnership s assets?

 

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