Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50% ; Folgers, 30% ; and Tulip, 20\%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300 , 000 ; Folgers, $210 , 000 ; and Tulip, $150 , 000 . Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150 , 000 , $170 , 000 , $120 , 000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. Journal entry worksheet Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $150 , 000 . Note: Enter debits before credits. Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5 : 3 : 2 ratio (in percents: Hunter, 50% ; Folgers, 30\%; and Tulip, 20\%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300 , 000 ; Folgers, $210 , 000 ; and Tulip, $150 , 000 . Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150 , 000 , $170 , 000 , $120 , 000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. Journal entry worksheet Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $170 , 000 . Notet Lnter debits before credits. Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50% ; Folgers, 30\%; and Tulip, 20\%). On January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter, $300 , 000 ; Folgers, $210 , 000 ; and Tulip, $150 , 000 . Prepare journal entries to record the retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150 , 000 , $170 , 000 , $120 , 000 for her equity using partnership cash. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. Journal entry worksheet Record the retirement of Tulip on the assumption that she is paid for her equity using partnership cash of $120 , 000 . Notes Lnter debits before credits.
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Hunter- Folgers- and Tulip have been partners while sharing net income.docx
1. Hunter, Folgers, and Tulip have been partners while sharing net income and loss in a 5:3:2 ratio
(in percents: Hunter, 50% ; Folgers, 30% ; and Tulip, 20%). On January 31, the date Tulip
retires from the partnership, the equities of the partners are Hunter, $300 , 000 ; Folgers, $210 ,
000 ; and Tulip, $150 , 000 . Prepare journal entries to record the retirement of Tulip under the
following independent assumptions. Assume Tulip is paid $150 , 000 , $170 , 000 , $120 , 000
for her equity using partnership cash. Note: Do not round intermediate calculations. Round final
answers to the nearest whole dollar. Journal entry worksheet Record the retirement of Tulip on
the assumption that she is paid for her equity using partnership cash of $150 , 000 . Note: Enter
debits before credits. Hunter, Folgers, and Tulip have been partners while sharing net income
and loss in a 5 : 3 : 2 ratio (in percents: Hunter, 50% ; Folgers, 30%; and Tulip, 20%). On
January 31, the date Tulip retires from the partnership, the equities of the partners are Hunter,
$300 , 000 ; Folgers, $210 , 000 ; and Tulip, $150 , 000 . Prepare journal entries to record the
retirement of Tulip under the following independent assumptions. Assume Tulip is paid $150 ,
000 , $170 , 000 , $120 , 000 for her equity using partnership cash. Note: Do not round
intermediate calculations. Round final answers to the nearest whole dollar. Journal entry
worksheet Record the retirement of Tulip on the assumption that she is paid for her equity using
partnership cash of $170 , 000 . Notet Lnter debits before credits. Hunter, Folgers, and Tulip
have been partners while sharing net income and loss in a 5:3:2 ratio (in percents: Hunter, 50% ;
Folgers, 30%; and Tulip, 20%). On January 31, the date Tulip retires from the partnership, the
equities of the partners are Hunter, $300 , 000 ; Folgers, $210 , 000 ; and Tulip, $150 , 000 .
Prepare journal entries to record the retirement of Tulip under the following independent
assumptions. Assume Tulip is paid $150 , 000 , $170 , 000 , $120 , 000 for her equity using
partnership cash. Note: Do not round intermediate calculations. Round final answers to the
nearest whole dollar. Journal entry worksheet Record the retirement of Tulip on the assumption
that she is paid for her equity using partnership cash of $120 , 000 . Notes Lnter debits before
credits.
