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Amber Wicked, Jean Trask, and Oscar Watchmen decide to form a T-shirt design partnership. Wired figures this T-shirt design business will help her other company,

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Amber Wicked, Jean Trask, and Oscar Watchmen decide to form a T-shirt design partnership. Wired figures this T-shirt design business will help her other company, Wicked Wild Company, with any Tshirt design needs. Additionally. Trask and Watchmen have connections with many companies and can expand and grow this new partnership Each of the three partners contrutes $12.000 cash to start up the WTW partnership They agree to share profits in two. First, Trask will receive 7.000 and Watchmen will receive $8.000 because they wil do most of the graphic design work. Any remaining profits or losses will be shared 1:2.3 for Wicked Trask, and when the business starts on January 1, 2021. On December 31, 2021, the business posted a los of $15.000 Wired decides to withdraw from the partnership on December 31, 2021. Trask and Watchmen agree to give Wicked $4.500 for her equity interest Resuired X i Required n 1. 2. 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 Wicked as a partner on December 31, 2021. Calculate the ending balances in Trask's and Watchmen's capital accounts. 3. 4. Print Done Requirement 1. Journalize the contribution of the partners in the partnership on January 1, 2021. Record the January 1, 2021 entry. (Record debits first, then credits. Explanations are not required. Round to the nearest cent if needed.) Journal Entry Date Accounts Debit Credit Jan. 1 Required 2. Journalize the allocation of the loss from the Income Summary account. (Record debits first, then credits. Explanations are not required. Round to the nearest cont if needed) Journal Entry Date Accounts Debit Credit Dec 31 that one Required 3. Joumalize the withdrawal of Wicked as a partner on December 31, 2021. (Record debits first, then credits. Explanations are not required. Round to the nearest cent i needed) Journal Entry Date Accounts Debit Credit Dec. 31 - the ending balances in Tras's and Watchman's capital accounts Required 4. Calculate the ending balances in Trask's and Watchmen's capital accounts. Partner Trask Watchmen Capital, December 31, 2021

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