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In this lecture video, the focus is on accounting for partners withdrawing from a partnership. Three scenarios are discussed: a no bonus example, a bonus to the remaining partners, and a bonus to the withdrawing partner. In the no bonus example, a partner withdraws cash equal to their capital balance. For instance, Perez, Kayla, and Resi have cash balances of $38,000, $84,000, and $38,000, respectively, and share income and loss equally. When Perez withdraws $38,000, his capital balance is decreased, and cash is also reduced. Cash is credited to reflect the payout, while the partner’s capital (equity) is debited to show the decrease.
