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What the journal entry to record the withdrawal of toni

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Q1. On June 2, the interests of the Partners are as follows: Tono $10,000, Toni, $12,000, and Adi, $14,000. On January February 7, Tono. Toni, and Adi agree to accept Dani as a partner upon his investment of $42,000 cash in the partnership. Dani is to receive a 25% ownership in the new partnership. Any bonus is attributable to the existing partners and is hared equally. What the journal entry to record the entry of Dani.

Q2. At the date of the withdrawal of Toni the partners have the following capital balances: Tono, $38,000, Toni, $84,000, and Adi,. $38,000. The partners share income and loss equally. Toni is to receive $84,000 cash upon withdrawal from the partnership. What the journal entry to record the withdrawal of Toni.

Reference no: EM132007964

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