P13-7B On December 31, the capital balances and income ratios in the BAG Company are as...

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P13-7B On December 31, the capital balances and income ratios in the BAG Company are as follows: Partner R. Beano D. Alman P. Garth Capital Balance $60,000 40,000 34,000 Income Ratio 50% 30% 20% Journalize withdrawal of partner under various assumptions. (SO 6) AP Instructions (a) Journalize the withdrawal of Garth under each of the following assumptions: 1. Each of the continuing partners agrees to pay $18,000 in cash from personal funds to pur- chase Garth's ownership equity. Each receives 50% of Garth's equity. 2. Alman agrees to purchase Garth's ownership interest for $30,000 cash. 3. Garth is paid $38,000 from partnership assets, which includes a bonus to him. 4. Garth is paid $28,000 from partnership assets. Bonuses to the remaining partners are CSecognize Inned with CamScanner (b,lman's capital balance after Garth's withdrawal is $43,000, what were (1) the total bonus to the remaining partners, and (2) the cash paid by the partnership to Garth? P13-7B On December 31, the capital balances and income ratios in the BAG Company are as follows: Partner R. Beano D. Alman P. Garth Capital Balance $60,000 40,000 34,000 Income Ratio 50% 30% 20% Journalize withdrawal of partner under various assumptions. (SO 6) AP Instructions (a) Journalize the withdrawal of Garth under each of the following assumptions: 1. Each of the continuing partners agrees to pay $18,000 in cash from personal funds to pur- chase Garth's ownership equity. Each receives 50% of Garth's equity. 2. Alman agrees to purchase Garth's ownership interest for $30,000 cash. 3. Garth is paid $38,000 from partnership assets, which includes a bonus to him. 4. Garth is paid $28,000 from partnership assets. Bonuses to the remaining partners are CSecognize Inned with CamScanner (b,lman's capital balance after Garth's withdrawal is $43,000, what were (1) the total bonus to the remaining partners, and (2) the cash paid by the partnership to Garth?