194
Elam Kamins and Rubio have capital balances of $150000 $100000 and $75000 respectively and their income ratios are 4:2:4.
Instructions
Record the withdrawal of Rubio from the partnership under each of the following assumptions:
1. Rubio is paid $75000 from partnership assets.
2. Rubio is paid $93000 from partnership assets.
3. Rubio is paid $60000 from partnership assets.

Withdrawal

The act of taking money out of a bank account, or the removal of assets from a business by the owner for personal use.

Partnership Assets

Assets that are owned by a partnership and are used in the business's operations, typically including things like cash, property, and equipment.

Income Ratios

Metrics that evaluate a company's ability to generate earnings relative to its revenue, equity, assets, or other financial metrics.