Money and Banking Question 12-5) Term Paper

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12-8) if Tulip is paid $60,000 for her equity, that is a no bonus scenario. The entry would be:

Tulip, capital $60,000

Cash $60,000

If Tulip is paid $80,000 that is a bonus to the retiring partner. The remaining partners would pay out Tulip based on their new income sharing ratios, which would be 5:3, reflecting the degree of increased share each has of the partnership with the withdrawal of Tulip.

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The payout is $20,000.

Tulip, capital $60,000

Holland, capital $12,500

Flowers, capital $7,500

Cash $80,000

If Tulip is paid $30,000 this reflects a bonus to the remaining partners. Since Tulip's value was $60,000 the remaining $30,000 would be allocated to Holland and Flowers based on the new ratios.

Tulip, capital $60,000

Holland, capital $18,750

Flowers, capital $11,250

Cash $30,000

12-12) Return on equity is the net income for each partner divided.....

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