Sunglao and Java are partners in bakery business. The activity in each partner's capital account for...

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Sunglao and Java are partners in bakery business. The activity in each partner's capital account for 2019 follows: Sunglao, Capital Java, Capital May 30 40,000 Dec. 1 20,000 200,000 80,000 70,000 180,000 10,000 480,000 Jan. 1 Feb. 1 Oct 30 Dec. 1 Dec. 30 Dec. 31 Mar. 30 July 1 Sept.30 50,000 50,000 50,000 300,000 Jan.1 150,000 Dec.31 The profit for 2019 is 2,000,000. Required: Determine the partners' share in the profit under each of the following independent cases, and prepare the necessary journal entries: Case 1: Bonus to Sunglao equal to 20% of profit, balance to be divided equally. Case 2: Salary allowances of 450,000 and 350,000 to Sunglao and Java, respectively; interest on average capital balances computed at 10%. Bonus to Sunglao of 20% of profit Sunglao and Java are partners in bakery business. The activity in each partner's capital account for 2019 follows: Sunglao, Capital Java, Capital May 30 40,000 Dec. 1 20,000 200,000 80,000 70,000 180,000 10,000 480,000 Jan. 1 Feb. 1 Oct 30 Dec. 1 Dec. 30 Dec. 31 Mar. 30 July 1 Sept.30 50,000 50,000 50,000 300,000 Jan.1 150,000 Dec.31 The profit for 2019 is 2,000,000. Required: Determine the partners' share in the profit under each of the following independent cases, and prepare the necessary journal entries: Case 1: Bonus to Sunglao equal to 20% of profit, balance to be divided equally. Case 2: Salary allowances of 450,000 and 350,000 to Sunglao and Java, respectively; interest on average capital balances computed at 10%. Bonus to Sunglao of 20% of profit