12.9A (LO 6) AP On December 31, the capital balances and profit and loss ratios in FJA Company are as follows: Capital Balance $144,000 $ 59,300 $ 48,000 Partner H. Fang P. Jiang R. Antoni Instructions Journalize the withdrawal of Antoni under each of the following independent assumptions: a. Using personal funds, Jiang agrees to purchase Antoni's ownership interest for $58,000 cash. b. Antoni is paid $58,000 from partnership assets. Profit and Loss Ratio 60% 30% 10%

12.9A (LO 6) AP On December 31, the capital balances and profit and loss ratios in FJA Company are as follows: Capital Balance $144,000 $ 59,300 $ 48,000 Partner H. Fang P. Jiang R. Antoni Instructions Journalize the withdrawal of Antoni under each of the following independent assumptions: a. Using personal funds, Jiang agrees to purchase Antoni's ownership interest for $58,000 cash. b. Antoni is paid $58,000 from partnership assets. Profit and Loss Ratio 60% 30% 10%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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