Dale Nagel, Keith White, and Issa Mbango have capital balances of $93,000, $71,000, and $6,400, respectively. They share profit or loss on a 4:3:2 basis. White withdraws from the partnership on September 30 of the current year. Journalize the withdrawal of White under each of the following assumptions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. White is paid $85,100 cash from partnership assets. 2. White is paid $56,000 cash from partnership assets. Date Account Titles and Explanation Debit Credit (1) Sept. 30 (To record withdrawal of a partner.) (2) Sept. 30 (To record withdrawal of a partner.) Determine the balances in the partners’ capital accounts and in total partners’ equity after White has withdrawn from the partnership for condition 2 above. (Do not leave any answer field blank. Enter 0 for amounts.) Condition 2 D. Nagel Capital K. White Capital I. Mbango Capital Total Capital Beginning balance $ $ $ $ Ending balanc

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Part 1 New profit sharing ratio for Dale Nagel and Issa Mbango 42 respectively Differ... View the full answer