Simonsen,Paulson,and Richardson are partners in a firm with the following capital account balances:
The profit-and-loss-sharing ratio among Simonsen,Paulson,and Richardson is 1:3:2,in the order given.Paulson is retiring from the partnership on December 31,2017.Paulson's capital account is settled at book value.Which of the following journal entries would the firm record for Paulson's withdrawal?
Definitions:
Organizational Psychology
The scientific study of human behavior in organizational settings, focusing on workplace dynamics and productivity.
Scientific Study
The systematic investigation and exploration of natural phenomena, typically involving experimentation and observation to gather evidence and establish facts.
Job Analysis
The process of gathering, documenting, and analyzing information about job duties, responsibilities, necessary skills, outcomes, and work environment of a specific job.
Workforce Planning
The process used by managers to determine their needs with regard to human resources including retaining their talented employees, promoting employees, as well as removing poor performers.
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