1. The ABC Partnership reports net income of P60,000. If Partners A, B, and C have income ratio of 50%, 30%, and 20%, respectively. What is the share of Partner C from the net income of the partnership, if he was given a capital ratio of 25%? 2. The capital balances in DEA Partnership are: D, capital P60,000; E, capital P50,000; and A, capital P40,000 and income ratios are: 5:3:2, respectively. The DEAR Partnership is formed by admitting R to the firm with cash investment of P60,000 for a 25% interest in capital. What is the amount of bonus to be credited to A, capital in admitting R? 3. Ranken purchases 50% of Lark’s capital interest in the K and L partnership for P22,000. If the capital balances of Kim and Lark are P40,000 and P30,000, respectively, Ranken’s capital balance following the purchase is

For Industry H, determine each partner's share of income assuming the partners agree to share income by giving a $67,700 per year salary allowance to Price, a $126,100 per year salary allowance to Waterhouse, a $113,700 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allowances as positive values. Enter losses as negative values.) Important! Be sure to click the correct Industry at the top of the dashboard. Net income (loss) Salary allowances Balance of income (loss) Interest allowances Balance of income (loss) Balance allocated equally Balance of income (loss) Shares of each partner Initial partnership investments Net income Allocation of Partnership Income Price Total net income Total 0 Waterhouse $ $ PRICE, WATERHOUSE, AND COOPERS Statement of Partners' Equity For Year Ended December 31 Price Coopers 0 0 Waterhouse 0 0 0 $ For Industry H, prepare a statement of partners' equity for the…