Hu-Kang-Lo Oriental Design is a partnership owned by three individuals. The partners share profits and losses in the ratio of 30% to Hu, 40% to Kang, and 30% to Lo. At December 31, 2012, the firm has this balance sheet:

Hu withdraws from the partnership on this date.
Requirements
Record Hu€™s withdrawal from the partnership under the following independent plans:
1. In a personal transaction, Hu sells her equity to Win, who pays Hu $110,000 for her interest. Kang and Lo agree to accept Win as a partner.
2. The partnership pays Hu cash of $5,000 and gives her a note payable for the remainder of her book equity in settlement of her partnership interest.
3. The partnership pays Hu $50,000 for her book equity.
4. The partners agree that the equipment is worth $146,000 and that accumulated depreciation should remain at $39,000. After the revaluation, the partnership settles with Hu by giving her cash of $10,000 and inventory for the remainder of her bookequity.

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HU-KANG-LO ORIENTAL DESIGN Balance Sheet December 31, 2012 Assets Liabilitics Cash s 18,000 Accounts payable $88,000 Accounts receivable $17,000 Less: allowance for uncollectibles 5,000 12,000 96,000 Owners' equity Inventory Equipment 125,000 Hu, capital Kang, capital 31,000 49,000 44,000 Less: accumulated 9,000| 86,000|Lo, capital epreciation Total assets Total liabilities and owners' equity 32124