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Amber Wackman, Jean Tidd, and Oscar Wolken decide to form a T-shirt design partnership. Wackman figures this T-shirt design business will help her other company

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Amber Wackman, Jean Tidd, and Oscar Wolken decide to form a T-shirt design partnership. Wackman figures this T-shirt design business will help her other company Golden Lake Company, with any T-shirt design needs. Additionally, Tidd and Wolken have connections with many companies, and can expand and grow this new partnership. Each of the three partners contributes $26,000 cash to start up the WTW partnership. They agree to share profits in two steps. First, Tidd will receive $7,000 and Wolken will receive $8,000 because they will do most of the graphic design work. Any remaining profits or losses will be shared 12:3 for Wackman, Tidd, and Wolken. The business starts on January 1, 2021. On December 31, 2021, the business posted a loss of $15,000. Wackman decides to withdraw from the partnership on December 31, 2021. Tidd and Wolken agree to give Wackman $4,600 for her equity interest. Required Requirement 1. Journalize the contribution of the partners in the partnership on January 1, 2021 Record the January 1, 2021 Required d.) Date Jan 1 1. 2 3. 4. Journalize the contribution of the partners in the partnership on January 1, 2021 Journalize the allocation of the loss from the Income Summary account Journalize the withdrawal of Wackman as a partner on December 31, 2021 Calculate the ending balances in Tidd's and Wokon's capital accounts Print Done Required 2. Journalize the the nearest cent if needed hot required. Roundtr

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