Question: please help! The capital balunce represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the



The capital balunce represents each partner's initial capital investment. Therefore, net income or net loss for 2022 has not been closed to the partners capitalaccounts: Journalize the entry to record the division of net income for the year 2022 under each of the following independent assumptions. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) 1. Net income is $32,400. Income is shared 6:3:1. 2. Net income is $43,200. Niensted and Bolen are given salary allowances of $16,200 and $10,800, respectively. The remainder is shared equally. 3. Net income is $20,520. Each partner is allowed interest of 10% on beginning capital balances. Niensted is given a $16,200 salary allowance. The remainder is shared equally. Preparea schedale showing the division of tret income uncher assumption (3) above fif an amount reduces the occount balance then enter with a nejative sign preceding the number eg - 15,000 or porenthesk eg (15,000)J Prepare a partners' capital statement for the year under assumption (3) above (Llst items that increase partners capital first)
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