Determine each partner's share of income assuming the partners agree to share income by giving a...

 

  

 

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Determine each partner's share of income assuming the partners agree to share income by giving a $27,000 per year salary allovance to Price, a $50.000 per year salary allovance to Waterhouse, a $46,000 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allovwances as positive values. Enter losses as negative values.) Show less a Allocation of Partnership Income Price Waterhouse Coopers Total 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 Reired Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of partners' equity for the year ended December 31. (Do not round intermediate calculations. Enter all allowances as positive values. Enter losses and withdrawals as negative values.) PRICE, WATERHOU SE, AND COOPERS Statement of Partners' Equity For Year Ended December 31 Price Waterhouse Coopers Total Initial partnership investments Net income Total net income Total < Required 1 Required 2 > Owner Initial Investments Waterhouse Price Coopers Revenues Expenses $175,000 $150,000 Salaries expense $125,000 Supplies expense $100,000 Advertising Insurance $75,000 expense еxpense $50,000 Rent $25,000 expense Advisory services Auditing revenue Tax services revenue revenue Owner Withdrawals Price Waterhouse Coopers $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 * + ableau Determine each partner's share of income assuming the partners agree to share income by giving a $27,000 per year salary allovance to Price, a $50.000 per year salary allovance to Waterhouse, a $46,000 per year salary allowance to Coopers, a 15% interest on their initial capital investments, and the remaining balance shared equally. (Enter all allovwances as positive values. Enter losses as negative values.) Show less a Allocation of Partnership Income Price Waterhouse Coopers Total 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 Reired Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of partners' equity for the year ended December 31. (Do not round intermediate calculations. Enter all allowances as positive values. Enter losses and withdrawals as negative values.) PRICE, WATERHOU SE, AND COOPERS Statement of Partners' Equity For Year Ended December 31 Price Waterhouse Coopers Total Initial partnership investments Net income Total net income Total < Required 1 Required 2 > Owner Initial Investments Waterhouse Price Coopers Revenues Expenses $175,000 $150,000 Salaries expense $125,000 Supplies expense $100,000 Advertising Insurance $75,000 expense еxpense $50,000 Rent $25,000 expense Advisory services Auditing revenue Tax services revenue revenue Owner Withdrawals Price Waterhouse Coopers $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 * + ableau

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