GFH Decorators is a calendar year partnership that specializes in home interior design. GFH Decorators income and expenses for the current year are provided in the exhibit. Based on the information provided, complete the Schedule K-1 for Fred, a 30 percent partner, in the table below. Enter all amounts as positive whole values. If an amount is zero, enter a zero (0). 1. Ordinary business income (loss) 2. MACRS depreciation 3. Guaranteed payments 4. Ordinary dividends 5. Net short term capital gan (loss) 6. Net long term capital gan (loss) GFH Decorators Current Year Income and Expenses: - Fee revenue $600,000 - Dividend income $ 2,000 - Capital gain (long-term) $10,000 - Charitable contributions ($ 500) - Employee salaries ($75,000) - Guaranteed payments to partners* ($75,000) - MACRS depreciation ($3,000) * Guaranteed payments paid to each partner based on ownership percentage

The partnership of Chase and Chloe shares profits and losses in a 70:30 ratio respectively after Chloe receives a $14,000 salary. Prepare a schedule showing how the profit and loss should be divided, assuming the profit or loss for the year is: If an amount is zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300) A. $40,000 Chase Chloe Total Salaries $4 Remaining income allocation Total division of income B. $12,000 Chase Chloe Total Salaries Remaining income allocation Total division of income C. S(10,000) Chase Chloe Total Salaries Remaining income allocation Total division of income %24 %24 %24 %24 %24 %24 %24 %24

Lawler and Riello formed a partnership on March 15, 2024. The partners agreed to contribute equal amounts of capital. Lawler contributed her sole proprietorship's assets and liabilities (credit balances in parentheses) as follows: X Data table Lawler's Business Current Market Value its. Select the explanation on the last line of the journal entry table.) Accounts Receivable 10,600 Merchandise Inventory 29,000 Prepaid Expenses 2,800 Credit 26,000 Store Equipment, Net Accounts Payable (25,000) Done More info On March 15, Riello contributed cash in an amount equal to the current market value of Lawler's partnership capital. The partners decided that Lawler will earn 60% of partnership profits because she will manage the business. Riello agreed to accept 40% of the profits. During the period ended December 31, the partnership earned net income of $70,000. Lawler's withdrawals were $36,000, and Riello's withdrawings totaled $26,000. Print Done Requirement 1. Journalize the partners' initial…

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