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When a Partner Withdraws from the Firm Which of the Following

Question 151

Short Answer

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

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