Part 1 Goering, Zarcus, and Schmit are partners and share income and loss in a 3:2:5 ratio. The partnership’s capital balances are as follows: Goering, $84,000; Zarcus, $69,000; and Schmit, $147,000. Zarcus decides to withdraw from the partnership, and the partners agree to not have the assets revalued upon Zarcus’s retirement. Prepare journal entries to record Zarcus’s February 1 withdrawal from the partnership under each of the following separate assumptions: Zarcus
(a) Sells her interest to Getz for $80,000 after Goering and Schmit approve the entry of Getz as a partner;
(b) Gives her interest to a son-in-law, Swanson, and thereafter Goering and Schmit accept Swanson as a partner;
(c) Is paid $69,000 in partnership cash for her equity;
(d) Is paid $107,000 in partnership cash for her equity; and
(e) Is paid $15,000 in partnership cash plus equipment recorded on the partnership books at $35,000 less its accumulated depreciation of $11,600.

Part 2 Assume that Zarcus does not retire from the partnership described in Part 1. Instead, Ford is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Ford’s entry into the partnership under each of the following separate assumptions: Ford invests
(a) $100,000;
(b) $74,000; and
(c) $131,000.