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Capital balances in Carla Vista Co. are Lango $36,000, Oslo $27,000, and Fernetti $18,000. Fernetti receives $21,600 from partnership assets in withdrawing from the firm.

Capital balances in Carla Vista Co. are Lango $36,000, Oslo $27,000, and Fernetti $18,000. Fernetti receives $21,600 from partnership assets in withdrawing from the firm. Lango and Oslo each receive 50% of Fernettis equity.

The partners share income equally.

Journalize the withdrawal of Fernetti.

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