When a Partner Withdraws from the Firm Which of the Following

question 178

Short Answer

When a partner withdraws from the firm which of the following reflects the correct partnership effects? $\quad$ $\quad$ $\quad$ $\quad$$\begin{array}{cc}&\text { Payment from } & \text { Payment from } \\& \underline{\text { Partners' Personal Assets}}& \underline{ \text { Partnership Assets }} \\\end{array}$
A) $\begin{array}{ccc}\text { Total net assets } && \text { decreased } &&&&& \text { decreased } \\\end{array}$
B) $\begin{array}{ccc}\text { Total capital } &&& \text { decreased } &&&&& \text { decreased } \\\end{array}$
C) $\begin{array}{ccc}\text { Total net assets } && \text { unchanged } &&&& \text { decreased } \\\end{array}$
D) $\begin{array}{ccc}\text { Total capital } &&& \text { unchanged } &&&& \text { unchanged }\end{array}$

• A)\(\begin{array}{ccc}
• \text { Total net assets } && \text { decreased } &&&&& \text { decreased } \\\end{array}\)
• B)\(\begin{array}{ccc}\text { Total capital } &&& \text { decreased } &&&&& \text { decreased } \\\end{array}\)
• C)\(\begin{array}{ccc}\text { Total net assets } && \text { unchanged } &&&& \text { decreased } \\\end{array}\)
• D)\(\begin{array}{ccc}\text { Total capital } &&& \text { unchanged } &&&& \text { unchanged }
• \end{array}\)

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