At the end of its first year of opera Partner Art Niensted Greg Bolen Krista Sayler...

    

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At the end of its first year of opera Partner Art Niensted Greg Bolen Krista Sayler son Der 31, 2022, Sunland Company's accounts show the following. Drawings Capt $21,620 $45,5 11,396 28,200 9,400 23,500 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the partners' capital accounts. Journalize the entry to re the div (Credit account titles are automatically 1 2. 3. net income for the year 2022 under each of the following independent assumptions when amount is entered. Do not indent manually) Net income is $28.200. is shared 6:3:1. Net income is $37,600. Niensted and Bolen are given salary allowances of $14,100 and $9,400, respectively. The remainder is shared equally. Net income is $17,860. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $14,100 salary allowance. The remainder is shared equally. Prepare a schedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with a negative sign preceding the number eg.-15,000 or parenthesis eg. (15,000)) Salary allowance Interest allowance on capital Total salaries and interest Remaining excess/ deficiency Total division of net income $ $ Art Nienst DIVISION OF NET INCOME Greg Bolen Krista Sayler Tota Art Niensted SUNLAND COMPANY Partners' Capital Statement Greg Bolen Krista Sayle At the end of its first year of opera Partner Art Niensted Greg Bolen Krista Sayler son Der 31, 2022, Sunland Company's accounts show the following. Drawings Capt $21,620 $45,5 11,396 28,200 9,400 23,500 The capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the partners' capital accounts. Journalize the entry to re the div (Credit account titles are automatically 1 2. 3. net income for the year 2022 under each of the following independent assumptions when amount is entered. Do not indent manually) Net income is $28.200. is shared 6:3:1. Net income is $37,600. Niensted and Bolen are given salary allowances of $14,100 and $9,400, respectively. The remainder is shared equally. Net income is $17,860. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $14,100 salary allowance. The remainder is shared equally. Prepare a schedule showing the division of net income under assumption (3) above. (If an amount reduces the account balance then enter with a negative sign preceding the number eg.-15,000 or parenthesis eg. (15,000)) Salary allowance Interest allowance on capital Total salaries and interest Remaining excess/ deficiency Total division of net income $ $ Art Nienst DIVISION OF NET INCOME Greg Bolen Krista Sayler Tota Art Niensted SUNLAND COMPANY Partners' Capital Statement Greg Bolen Krista Sayle