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On December 31, the capital balances and income ratios in Blossom Company are as follows. Partner Capital Balance Income Ratio Trayer $62,500 50% Emig 37,500 30% Posada 30,000 20% (a) (b) × Your answer is incorrect. If Emig's capital balance after Posada's withdrawal is $41,430, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus (2) Cash paid to Posada GA +A 3930 33930

On December 31, the capital balances and income ratios in Blossom Company are as follows. Partner Capital Balance Income Ratio Trayer $62,500 50% Emig 37,500 30% Posada 30,000 20% (a) (b) × Your answer is incorrect. If Emig's capital balance after Posada's withdrawal is $41,430, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus (2) Cash paid to Posada GA +A 3930 33930

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On December 31, the capital balances and income ratios in Blossom Company are as follows. Partner Capital Balance Income Ratio Trayer $62,500 50% Emig 37,500 30% Posada 30,000 20% (a) (b) × Your answer is incorrect. If Emig's capital balance after Posada's withdrawal is $41,430, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus (2) Cash paid to Posada GA +A 3930 33930
Transcribed Image Text:On December 31, the capital balances and income ratios in Blossom Company are as follows. Partner Capital Balance Income Ratio Trayer $62,500 50% Emig 37,500 30% Posada 30,000 20% (a) (b) × Your answer is incorrect. If Emig's capital balance after Posada's withdrawal is $41,430, what were (1) the total bonus to the remaining partners and (2) the cash paid by the partnership to Posada? (1) Total bonus (2) Cash paid to Posada GA +A 3930 33930
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