When admitting a new partner into a partnership, a bonus is paid to the current/existing partner if O a the cash contributed is more than the equity received by the new partner Ob the equity received is equivalent to the cash contributed c. the cash contributed is less than the equity received by the new partner Od the equity received is mare than the cash contributed by the new partner Humpy and Dumpy Partnership reports net income of $75,000. The partnership agreement provides for annual salary allowance of $30,000 for Humpy and $20,000 for Dumpy and interest allowances of $8,000 to Humpy and $10,000 to Dumpy. Any remaining income or loss is to be shared according to their income sharing ratio of 7:3, respectively. How much is Humpty's share of the net income? a. $42.900 OD. $4.900 Oc532100 Od $2.100 The partnership agreement provided for Darvin to receive a salary allowance $10,000 for the year and Linbert to rece salary allowance of $4,000 for the year. Darvin and Linbert splits profits in the ratio of 1:1 respectively. The partnership net loss of $450,000 for the period. How much is Darvin's share of the net loss? O a (5228.000) b. (5222.000) O (2.000) d ($225,000 Clear my choice The book value of the non cash assets of KLM partnership is $100,000. In liquidation, the partnership sells the nonca assets for $130,000. Which of the following journal entry is needed to journalize the sale of the non cash asset O a. Credit non cash assets for $130,000 O b. Credit cash for $130,000 O c. Debit cash for $100,000 d. Credit non cash assets for $100,000