below] Ramer and Knox began a partnership by investing $68,000 and $102,000, respectively. During its first year, the partnership earned $205,000. Prepare calculations showing how the $205,000 income is allocated under each separate plan for sharing income and loss. Important Note! Before you start working on this problem, watch the Hint video. This video shows you exactly how to work this problem. 2. The partners agreed to share income and loss in proportion to their initial investments. Net income is $205,000. (Do not round Intermediate calculations.) A Fraction to Allocate Ramer's Share Fraction to Allocate Knox's Share of Ramer Knox of Income Income $68,000/$170,000 I Total Income Allocated $ O

1. You plan to invest $10,000 in a general partnership. There will be four other general partners, each contributing $10,000. So, the total contributed by the general partners is $50,000 and each partner owns 20% of the partnership. The partnership plans to borrow $250,000 from the bank. Therefore, the partnership will have a total of $50,000+ $250,000 $300,000 in cash to start its business. What is your largest potential loss from your investment in the partnership? In other words, how much would you lose if the $300,000 is invested in an asset that immediately loses all of its value (i.e., the asset's value drops to $0)?

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Required information [The following information applies to the questions displayed below.] Mo, Lu, and Barb formed the MLB Partnership by making investments of $73,800, $287,000, and $459,200, respectively. They predict annual partnership net income of $487,500 and are considering the following alternative plans of sharing income and loss: (a) equally; (b) in the ratio of their initial capital investments; or (c) salary allowances of $82,800 to Mo, $62,100 to Lu, and $93,500 to Barb; interest allowances of 10% on their initial capital investments; and the remaining balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb. 2. Prepare a statement of partners' equity showing the allocation of income to the partners assuming they agree to use plan (c), that income earned is $487,500; and that Mo, Lu, and Barb withdraw $38,100, $52,100, and $68,100, respectively, at year-end. Note: Do not round intermediate calculations. Enter all allowances as positive values. Enter losses as…

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…

Daggett, Lamppin, and Pendergast are partners who share profits and losses 50%, 30%, and 20%, respectively. Their capital balances are $140,000, $80,000, and $55,000, respectively. (a) Your answer is correct. Assume Sanford joins the partnership by investing $135,000 for a 25% interest with bonuses to the existing partners. Prepare the journal entry to record his investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Cash Sanford, Capital Daggett, Capital Lamppin, Capital Pendergast, Capital + + + Debit 135000 Credit 102500 16250 9750 6500

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6) Oliva Tsang and David Breck began a partnership by investing $5,000 and $45,000 respectively. For the year-ended December 31, 2009, the partnership earned $100,000. The partners agree to share income by allowing a $65,000 per year salary allowance to Breck, a $15,000 per year salary allowance to Tsang, 5% interest on beginning capital balances and the remainder equally. a) Prepare calculations that show how the income should be allocated to the partners under the following plans for sharing net incomes and losses.

Allocation of bonus to Arun and Margot: Arun Margot C. $50,000 Total capital of Arun and Margot Investment by new partner, Tammy Total capital of new partnership Tammy's capital credit Total bonus to Arun and Margot Prepare the journal entries to show the resulting each of the three partners' capital accounts. If an amount box does not require an entry, leave it blank. A. B. C. %24 %24 %24 %24