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On December 31, the capital balances and income ratios in Sheridan Company are as follows. Partner Capital Balance Income Ratio Trayer Emig Posada $59,500 35,500 30,500 50% 30% 20% Your answer is partially correct. Try again. 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 $18,600 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 $34,100 from partnership assets, which includes a bonus to the retiring partner. (4) Posada is paid $20,980 from partnership assets, and bonuses to the remaining partners are recognized. No. Account Titles and Explanation Debit Credit 1. Posada, Capital 30500 Trayer, Capital Emig, Capital V 2. Posada, Capital 30500 Emig, Capital 30500 3. Posada, Capital Trayer, Capital Emig, Capital Cash 4. Posada, Capital 30500 4. Posada, Capital > 30500 Trayer, Capital Emig, Capital Cash LINK TO TEXT x Your answer is incorrect. Try again. If Emig's capital balance after Posada's withdrawal is $38,890, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus $1 x (2) Cash paid to Posada Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT

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