Dale Nagel, Keith White, and Issa Mbango have capital balances of $92,000, $74,000, and $6,000, respectively. They share profit or loss on a 4:3:2 basis. White withdraws from the partnership on September 30 of the current year.

Instructions

(a) JournalizethewithdrawalofWhiteundereachofthefollowingassumptions.

1. White is paid $83,000 cash from partnership assets.

2. White is paid $59,000 cash from partnership assets.

(b) Determine the balances in the partners' capital accounts and in total partners' equity after White has with- drawn from the partnership for condition 2 above.