Part c

CES Problem 12-2A (Part Level Submission) At the end of its first year of operations on December 31, 2017, NBS Company's accounts show the following. Partner Drawings Capital Art Niensted Greg Bolen Krista Sayler $23,500 13,900 10,300 $44,300 31,000 29,000 studyThe capital balance represents each partner's initial capital investment. Therefore, net income or net loss for 2017 has not been closed to the partners capital accounts Your answer is correct Journalize the entry to record the division of net income for the year 2017 under each of the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Net income is $30,700. Income is shared 6:3:1. (3) Net income is $18 900 Each partner is allowed interest of 10% on beginning capital balances. Nie sted is given a $14,470 salary a lo ance. The remand (2) Net Income is $39,400. Niensted and Bolen are given salary allowances of $15,400 and $10,500, respectively. The reisinder is sharea is shared equally is shared equal