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

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$(2)$ 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