Gale. Mctean, and Lux are partners of Burgers and Brew Company with capltal balances as follows: Gale, \$104 000; Mct ean, \$103,000; and Lux, \$164,000. The partners share profit and losses in a 3:2.5 ratio. Mclean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2024, withdrawal of Mclean from the partnership under each of the following unrelated assumptions: a. McLean sells his interest to Freedman for $185 , 000 after Gale and Lux approve the entry of Freedman as a partner (whicre Mctean receives the cash personally from Freedman). Journal entry worksheet b. Mciean gives his interest to a son-in-law, Park. Gale and Lux accept Park as a partner. Journal entry worksheet Pote: Enter dehits befare credits. c. Mclean is poid $103 , 000 in partnership cash for his equily. Journal entry worksheet Record withdrawal of Mctean, where he is paid $103 , 000 in partnersbip cash for his equity. Note Eular idebits bafore credith: d. Mclean is paid $149.000 in partnership cash for his equity. Journal entry worksheet Recoard the withdrawal of Mctean. 6. Mckean is pald $44 , 250 in partnership cash plus machinery that is recorded on the partnership books at $132 , 000 less accumulated depreclation of $100 , 000 . (Round final answers to 2 decimal places.) Journal entry worksheet Nuteit Enter-Aebits before oredits.
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Gale- Mctean- and Lux are partners of Burgers and Brew Company with ca.docx
1. Gale. Mctean, and Lux are partners of Burgers and Brew Company with capltal balances as
follows: Gale, $104 000; Mct ean, $103,000; and Lux, $164,000. The partners share profit and
losses in a 3:2.5 ratio. Mclean decides to withdraw from the partnership. Prepare General Journal
entries to record the May 1, 2024, withdrawal of Mclean from the partnership under each of the
following unrelated assumptions: a. McLean sells his interest to Freedman for $185 , 000 after
Gale and Lux approve the entry of Freedman as a partner (whicre Mctean receives the cash
personally from Freedman). Journal entry worksheet b. Mciean gives his interest to a son-in-law,
Park. Gale and Lux accept Park as a partner. Journal entry worksheet Pote: Enter dehits befare
credits. c. Mclean is poid $103 , 000 in partnership cash for his equily. Journal entry worksheet
Record withdrawal of Mctean, where he is paid $103 , 000 in partnersbip cash for his equity.
Note Eular idebits bafore credith: d. Mclean is paid $149.000 in partnership cash for his equity.
Journal entry worksheet Recoard the withdrawal of Mctean. 6. Mckean is pald $44 , 250 in
partnership cash plus machinery that is recorded on the partnership books at $132 , 000 less
accumulated depreclation of $100 , 000 . (Round final answers to 2 decimal places.) Journal
entry worksheet Nuteit Enter-Aebits before oredits.
