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Journalize the withdrawal of Morden

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Question - On December 31, 2021, capital balances of the partners in Manitoba Maple are R. Neepawa $45,060; S. Altona $33,470; and T. Morden $24,230. The partners share profit in a 5:3:2 ratio, respectively. Morden decides that she is going to leave the partnership. Journalize the withdrawal of Morden assuming: Neepawa and Altona both pay Morden $17,015 from their personal assets to each receive 50% of Morden's equity.

Reference no: EM132611126

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