Problem
Alex has a capital balance of $54,000, Brent has a capital balance of $82,000, and Zoey has a capital balance of $ 36,000. They have a profit/loss ratio of 4:2:4.
Task
Prepare the journal entry on the books of the partnership to record the withdrawal of Zoey from the partnership under each of the following independent assumptions:
a. Zoey is paid $ 48,000 from partnership assets.
b. Zoey is paid $ 27,000 from partnership assets