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Capital balances in Carla Vista Co.are Lango $43,300. Oslo $25,000, and Fernetti $15,400. Lango and Oslo each agree to pay Fernetti $12,200 from their personal
Capital balances in Carla Vista Co.are Lango $43,300. Oslo $25,000, and Fernetti $15,400. Lango and Oslo each agree to pay Fernetti $12,200 from their personal assets to buy out Fernetti. Lango and Oslo each receive 50% of Fernetti's equity. The partners share income equally. Journalize the withdrawal of Fernetti. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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