In the JAW partnership,Jane's capital is $100,000,Anne's is $80,000,and William's is $75,000.They share income in a 3:2:1 ratio,respectively.William is retiring from the partnership.
Required:
Prepare journal entries to record William's withdrawal according to each of the following independent assumptions:
a)William is paid $80,000,and no goodwill is recorded.
b)William is paid $85,000,and only his share of the goodwill is recorded.
c)William is paid $78,000,and all implied goodwill is recorded.

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The Answer of In the JAW partnership,Jane's capital is $100,000,Anne's is $80,000,and William's is $75,000.They share income in a 3:2:1 ratio,respectively.William is retiring from the partnership.
Required:
Prepare journal entries to record William's withdrawal according to each of the following independent assumptions:
a)William is paid $80,000,and no goodwill is recorded.
b)William is paid $85,000,and only his share of the goodwill is recorded.
c)William is paid $78,000,and all implied goodwill is recorded.

In the JAW Partnership,Jane's Capital Is $100,000,Anne's Is $80,000,and William's