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DbWorldventures Cast Acct pen Assignment CALCULATOR OR FULL SOREEN PRINTER VERSION BACK Hill, Jones, and Vose have been partners throughout 2016. Their average balances for the year and their balances at the end of the year before dosing the nominal accounts are as follows Hill Jones Vose $97,500 $70,000 27,300 21,800 14,250 11,700 . Debit balance. The income for 2016 is $108,000 before charging partners salary allowances and before payment of interest on average balances at the agreed rate of 5% per annum. Annual salary allocatior are $12,000 to Hill, $9,600 to Jones, and $8,800 to Vose. The balance of income is to be allocated at the rate of 60% to Ha, 10% tolone, and 30 I to ne It is intended to distribute cash to the partners so that, after credits and allocations have been made as indicated in the preceding paragraph, the balances in the partners' accounts will be proportionate to their residual profit-sharing ratios, None of the partners is to invest additional cash, but they wish to distribute the lowest possible amount of cash. Prepare a schedule of partners' accounts, showlng balances at the end of 2016 before closing, the allocations of the net income for 2016, the cash distributed, and the closing balances. (RouD a?swers to 0 decimal places, e.g. 5,125. List items that increase partners' capital first.) Balances Before Income Allocation And Cash Distribution Income Allocated Cash Distributed Ending Balances- 12/31 240 AM Type here to search