Barth, Holt, and Tran have been partners of a ski, snowboard, and mountain bike shop in Whistler,
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Question:
Barth, Holt, and Tran have been partners of a ski, snowboard, and mountain bike shop in Whistler, BC called Storm. Based on the partnership agreement, they share profit and losses in a :: ratio. On November the date Tran retires from the partnership, the equities of the partners are Barth, $; Holt, $; and Tran, $ Present general journal entries to record Trans retirement under each of the flowing unrelated assumptions:
a Tran is paid $ in partnership cash for his equity.
Journal Entry Worksheet
Record the retirement of Tran
b Tran is paid $ in partnership cash for his equity.
Record the retirement of Tran
cTran is paid $ in partnership cash for his equity.
Record the retirement of Tran
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