Question: Please help need help with the ones I got wrong. Required information Use the following information for the Exercises below. (Algo) [The following information applies

 Please help need help with the ones I got wrong. Required

information Use the following information for the Exercises below. (Algo) [The following

Please help need help with the ones I got wrong.

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Ramer and Knox began a partnership by investing $66,000 and $99,000, respectively. During its first year, the partnership earned $200,000. Prepare calculations showing how the $200,000 income is allocated under each separate plan for sharing income and loss. Exercise 12-5 (Algo) Part 3 Income allocation in a partnership LO P2 3. The partners agreed to share income by giving a $58,000 per year salary allowance to Ramer, a $40,000 per year salary allowance to Knox, 10% interest on their initial capital investments, and the remaining balance shared equally. Net income is $200,000. (Enter all allowances as positive values. Enter losses as negative values.) Answer is complete but not entirely correct. Ramer Knox Total nnnnnn 3. The partners agreed to share income by giving a $58,000 per year salary allowance to Ramer, a $40,000 per year salary allowance to Knox, 10% interest on their initial capital investments, and the remaining balance shared equally. Net income is $200,000. (Enter all allowances as positive values. Enter losses as negative values.) B X Answer is complete but not entirely correct. Ramer Knox Total Net Income Salary allowances $ 58,000 6,600 $ 40 000 9.900 Interest allowances $ 200,000 98,000 16,500 114,500 81,500 Total salary and interest Balance of income 40,750 X 40,750 X 81,500 Balance allocated equally Balance of income IS 0 Shares of the partners $ 105,350 $ 90,650

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