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Show me the steps to solve On December 3 1 , the capital balances and income ratios in Crane Company are as follows. [ ]

Show me the steps to solve On December 31, the capital balances and income ratios in Crane Company are as follows.
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1 If Emig's capital balance after Posada's withdrawal is $40,480, 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
(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) Each of the continuing partners agrees to pay $18,400 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 $24,200 cash.
(3) Posada is paid $36,220 from partnership assets, which includes a bonus to the retiring partner.
(4) Posada is paid $22,300 from partnership assets, and bonuses to the remaining partners are recognized.
No. Account Titles and Explanation
Credit
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