please answer all the questions. thank you so much

DIVISION OF PARTNERSHIP NET INCOME (LOSS) (18 points) Chaim, David & Ephraim have formed a partnership and are interested in seeing the results of various income and loss sharing arrangements before they finalize their partnership agreement. The partners' beginning capital balances will be: Chaim $100,000, David $75,000 & Ephraim $50,000. Chaim and Ephraim will work for a salary allowance of $115,000 and $85,000 respectively, while David will not work there for the first few years. In addition, each partner is allowed a 10% interest allowance on their beginning capital balances with any remainder shared equally. Instructions: Prepare a schedule indicating the amounts to be debited or credited to the capital accounts in each of the following independent situations. A. Net income is $320,000. B. Net income is $180,500. Indicate each of the following characteristics if it is an A - Advantage, D- Disadvantage or E-False, if it does not apply to this form of entity. Characteristics Sole Proprietorship General Partnership Limited Liability Company Corporation Limited Life Limited Liability Raising Capital $ Double Taxation Instructions: Journalize the following transactions for ABC Rug Co. (20 points) (Note: It is helpful to keep track of the total outstanding shares.) January 1, '14, Issued 300 shares of $2 par value common stock for $1,500. January 15, '14, Issued 100 shares of its stock for a used truck advertised for sale at $900. (The stock is actively traded at a market price of $6 per share.) April 1, '14, Board of directors declared a 10% stock dividend when the stock has a market price of $8 per share. April 30, '14. Above stock dividend is distributed. May 1, '14, Board of Directors declared a 2 for 1 stock split. July 1, '14, the Company repurchased 60 shares of its common stock for $8 per share. August 1, '14, they sold 30 of the treasury shares for $10 per share. September 1, '14, sold 30 treasury shares at $5 per share. October 31, '14, the board of directors declared a $.20 per share dividend. November 30, '14 the above dividend is payable to shareholders of record on this day. December 31, '14 the Company pays the dividends