The Capital Balances & Income ratios on 12/31 are as follows ? (10)

On December 31, the capital balances and income ratios in Ivanhoe Company are as follows. Partner Capital Balance Income Ratio Trayer Emig Posada (a) $60,000 36,000 25,000 50% 30% 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) (2) (3) (4) Each of the continuing partners agrees to pay $19,200 in cash from personal funds to purchase Posada's ownership equity. Each receives 50% of Posada's equity. Emig agrees to purchase Posada's ownership interest for $23,200 cash. Posada is paid $28,200 from partnership assets, which includes a bonus to the retiring partner. Posada is paid $15,880 from partnership assets, and bonuses to the remaining partners are recognized. No. Account Titles and Explanation 1. 2. Posada, Capital Trayer, Capital Emig. Capital Posada, Capital Emig, Capital Debit 25,000 25,000 Credit 3. Posada, Capital Trayer, Capital Emig. Capital Cash Posada, Capital Cash 25,000 25,000 Trayer, Capital - Emig. Capital eTextbook and Media (b) If Emig's capital balance after Posada's withdrawal is $39,840, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) (2) Total bonus Cash paid to Posada