E12-8 Dale Nagel, Keith White, and Dan Neal have capital balances of $95,000, $75,000, and Record withdrawal of partner

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E12 8 Dale Nagel Keith White And Dan Neal Have Capital Balances Of 95 000 75 000 And Record Withdrawal Of Partner 1 (15.38 KiB) Viewed 47 times

E12-8 Dale Nagel, Keith White, and Dan Neal have capital balances of $95,000, $75,000, and Record withdrawal of partner $60,000, respectively . They share income or less on a 43.2 basis. Assume White withdraws from (505) AP the partnership on September 30 of the current year under each of the following independent as sumptions 1. White is paid $85,000 cash from partnership assets 2. White is paid $69,000 cash from partnership assets, Instructions Journalize the withdrawal of White under each of the above assumptions