1. Jox, Alex, and Devy are three partners who share profits in the ratio of 30%, 25%, and 15%. The partners' initial capital is in this ratio, but as of June 30, 2015, the capital balances are as follows: Jox $40,000, Alex $20,000, and Devy $20,000. They want to account for this capital balance in the profit-loss ratio. (a) Assuming that the capital balance is to be accounted for in the profit and loss ratio, with out-of-company payments between the partners and the total company capital between the partners and the total capital of the company remaining the same, what is the required cash transfer between the partners and the journal entry? what will be made in the book of fellowship of firms? (b) Assuming that the capital balance is accounted for in the profit and loss ratio, with the partners' investment being as small as possible in the company, how much additional investment is required, and what journal entry should be made in the partnership ledger? 2. Jun and Hyun are partners who have a capital of $50,000 each and share profits in a 40:20 ratio. Vroyn paid Hyun $2,000 for 1/2 of his interest in the company. (a) What is the capital balance of each partner after Vroyn is accepted? (b) How will profits be divided if there is no special agreement