On December 31, the capital balances and income ratios in Blossom Company are as follows. Partner Capital Balance Income Ratio Trayer $55,000 50% Emig 35,000 30% Posada 25.000 20% (a) Journalize the withdrawal of Posada under each of the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1 ) 1 Each of the continuing partners agrees to pay $16,000 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. (2) Emig agrees to purchase Posada's ownership interest for $23,000 cash. (3) Posada is paid $28,200 from partnership assets, which includes a bonus to the retiring partner. (4) Posada is paid $17,000 from partnership assets, and bonuses to the remaining partners are recognized. indented when amount is entered. Do not indent manually.) (1) Each of the continuing partners agrees to pay $16,000 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. (2) Emig agrees to purchase Posada's ownership interest for $23,000 cash. (3) Posada is paid $28,200 from partnership assets, which includes a bonus to the retiring partner. (4) Posada is paid $17,000 from partnership assets, and bonuses to the remaining partners are recognized. Debit Credit No. Account Titles and Explanation 25000 1. Posada, Capital Trayer, Capital Emig, Capital 2. 3. 3. 4. 4 e Textbook and Media Attempts: 0 of 5 used Submit Answer Save for Later Last saved 15 minutes ago.. e Textbook and Media Attempts: 0 of 5 used Submit Answer Save for Later Last saved 15 minutes ago. (b) If Emig's capital balance after Posada's withdrawal is $38,300, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? $ (1) Total bonus $ (2) Cash paid to Posada e Textbook and Media Attempts: 0 of 5 used Submit Answer Save for Later