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Level 1

How should I record a share buyout transaction using company's cash? The buyout amount is greater than that Partner's Equity account. I will be sole owner of the business

 
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Highlighted
Level 4

How should I record a share buyout transaction using company's cash? The buyout amount is greater than that Partner's Equity account. I will be sole owner of the business

Partner's Equity needs to be debited and Bank Needs to be credited....

Please also clarify why buyout amount is greater then equity amount...